Shiba Inu and Cardano Continue to lose interest. Avorak AI next up-and-coming project
The crypto world was abuzz in 2021 with the rise of Cardano (ADA) and Shiba Inu (SHIB) coins. Both coins saw a massive surge and reached all-time highs in the second half of 2021. However, investors are now losing interest in these two coins as prices declined for 2022 and are still struggling in 2023.
Cardano and Shiba Inu price prediction
Cardano and Shiba Inu have recently seen a decline in volume and interest, with 24hr trading volumes averaging around $240m for Cardano and $200m for Shiba Inu over the past week. To put that in comparison, XRP as a comparison has a 24hr trading volume average of over $1 Billion over the same timeframe.
So, what should investors expect from these two coins in the future? Analysts have generally been bullish on both coins, with some predicting that Cardano (ADA) could reach an all-time high of $3.60 in the coming years. Similarly, analysts have predicted that Shiba Inu (SHIB) could reach as high as $0.0015, but this would likely need some form of narrative to take place.
Reasons for the decline of Cardano and Shiba Inu
So, why are investors losing interest in these two coins? A few possible reasons exist for the decline of Cardano (ADA) and Shiba Inu (SHIB).
The launch of the Cardano smart contracts was a very hyped event that failed to deliver in many aspects. The blockchain performed terribly and caused ADA to top out in price before Bitcoin.
Shiba Inu made waves as the ‘next Dogecoin’ and caused a new spark in meme crypto interest. With minimal real use case, the price has been unable to maintain any base level over the past year, and meme coins have suffered large losses overall.
Use case is key
One core takeaway is that the use case is integral to a cryptocurrency’s price stability. As long as the crypto is in demand for its purpose, it will continue to be bought, and the price will remain strong.
This then brings into question which crypto has the best use case or product associated with it.
AI is the next wave
Advancements in AI technology are coming thick and fast, with new AI systems being released and adopted in record time.
Avorak AI is the next machine-learning system on the scene, with many products designed to increase productivity and profit and assist with creative tasks.
All Avorak AI products will require payment by the AVRK token, which is planned to be available over many centralized exchanges (CEX) and decentralized exchanges (DEX).
This use case alone will provide continuous buying and revenue for the project, but in addition to this, AVRK holders are set to receive a percentage of this revenue back as drops for holding the AVRK token. With a revenue-sharing model built-in to provide a passive income from working products and a deflationary token system that burns AVRK in ratio to the revenue generated, it is hard to see how this will not perform incredibly well over the coming years.
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