.png){kind=logo}
The cryptocurrency market has been showing mixed signals, with Shiba Inu (SHIB) continuing to decline. Amidst this decline, Solana (SOL) has seen an increasing inflow of cash from institutional investors, while Pomerdoge (POMD) has been leading the play-to-earn (P2E) market rally. In this article, we will discuss these three trends in the crypto market.
Shiba Inu (SHIB) has been one of the most talked-about meme coins in the crypto space since its launch of Shibarium. The layer 2 network has been growing in popularity, recording more than 1 million new wallet registrations in two weeks.
Despite the growth of the Shibarium network and intensifying Shiba Inu burn, the price of Shiba Inu has continued to decline. The Shiba Inu price has been on a decline since mid-August, dropping from the $0.00001100 resistance level.
The price decline over the last three weeks has forced the Shiba Inu coin price below the $0.000007800 support level. Despite its current bearish performance, crypto experts have forecasted that the Shibarium growth could foster an increase in the Shiba Inu price.
Since the start of 2023, the Solana coin has become one of the favorite cryptos of institutional investors. Despite the current crypto market decline, Solana has continued seeing inflows from institutional investors.
In the week ending September 1, Solana saw an inflow of $0.7 million while the crypto market saw outflows of $11.2 million. This is the ninth consecutive week of inflow of cash into the Solana network.
Despite the growing inflow of cash into Solana, the SOL price has been on a decline. From a high of $27.5 in mid-July, the price of Solana has dropped under the $20 market. Despite the price decline, crypto experts are bullish on the Solana price in 2023.
In the current bearish market, Pomerdoge (POMD) has caught the attention of investors in the crypto market. Over the weekend when the crypto market declined, the new P2E project rallied, as the price of the Pomerdoge token soared to a new high above $0.0115.
Because of the project's uniqueness as a combination of meme coins and play-to-earn, crypto experts are more optimistic about the long-term performance of Pomerdoge. Pomerdoge is creating a holistic gaming ecosystem that includes an exciting game, an NFT marketplace, and NFT collections.
Pomerdoge has been named the meme coin of the year for pioneering a new sector in the blockchain play-to-earn arena. POMD's price could soar even further if meme coins gain popularity in the second half of the year.
POMD which is now trading at $0.0115 offers numerous benefits to holders, including access to exclusive marketplace offerings, discounts, and NFTs. Additionally, users who stake their tokens can earn rewards. Regular token holders enjoy a fixed APR of 10%, while VIP holders can earn 15% on their staked $POMD tokens.
Website: https://pomerdoge.com/
Telegram Community: https://t.me/pomerdoge
Join our WhatsApp Channel to get the latest news, exclusives and videos on WhatsApp
_____________
Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
