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In recent weeks, there has been a wide variation of trends in the crypto market. A drop in the price of Shiba Inu has seen many investors look to cash out. Meanwhile, Polygon has remained steady as its network continues to expand. Also, Everlodge has been projected to experience a massive rally over its unique offering.
The Shiba Inu coin has dropped below the $0.00000700 for the first time since June. The SHIB price drop defies the bullish sentiment building since the Shibarium launch. In October, the Shiba Inu price has fallen to $0.000006780, raising concerns.
Along with the price drop, there has been a decline in the Shiba Inu burn rate. In addition, there has been an increase in SHIB being traded on exchanges. A recent report shows that the amount of Shiba Inu on exchanges has now surged above $1.1 billion.
The figure jumped as over 1 trillion SHIB tokens were added to exchanges in October. The move of tokens to exchanges is often followed by increased selling pressure. Despite this, some analysts remain bullish. $SHIB KNIGHT has predicted that Shiba Inu could rally to $0.000030 soon.
Starting at a layer 2 scaling solution, the Polygon network has evolved to be an innovative blockchain. Polygon Labs is now looking to expand its offering into ApeCoin. The proposal was put forward by co-founder Sandeep Nailwal on the ApeCoin DAO forum.
The aim of the proposal is for Polygon Labs to collaborate with the ApeCoin community in building an exclusive L2 ApeChain. The L2 chain will be based on zero-knowledge (zk), a technology Polygon has been exploring recently.
Although the price of Polygon has been dropping with the rest of the crypto market, MATIC has held its support. The Polygon price has held above the $0.5000 level, trading at $0.5144. If it continues to hold this support, it could rally to $0.6000.
Unlike Polygon and Shiba Inu, Everlodge has shown more promise of a major rally. Crypto analysts are bullish about Everlodge because of its unique plan to democratize the timeshares market. The average amount required to invest in timeshare properties is around $22,000. However, not everybody can afford this.
The aim of Everlodge is to reduce this amount to only $100. The project is building the first blockchain marketplace for the timeshares market to achieve its goal. The market will list luxury apartments, hotels, and vacation homes. However, it will digitalize these properties and mint their ownership details on NFTs.
These property-backed NFTs will be fractional. This means that they can be divided into smaller fragments, from as little as $100. Each fragment will represent a share of each property. Holders of these NFTs will reap rewards as these properties are leased and rented out.
By democratizing the timeshares market, Everlodge looks to onboard thousands of investors into the industry. As it achieves this goal, the utility token of the ecosystem, ELDG, is set for a massive rally. ELDG currently trades at $0.020 but has been forecasted to rally to $0.50 before the year ends.
Website: https://www.everlodge.io/
Telegram: https://t.me/everlodge
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Disclaimer: Analytics Insight does not provide financial advice or guidance on cryptocurrencies and stocks. 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. This article is provided for informational purposes and does not constitute investment advice. You are responsible for conducting your own research (DYOR) before making any investments. Read more about the financial risks involved here.
