OG meme coins, such as Dogecoin and Shiba Inu, have been slow and bearishly biased since the start of the year. While the Dogecoin price experienced a slight recovery in May, the meme firstborn has returned to its consolidation phase below $2. The Shiba Inu coin, on the other hand, has entered full bearish sentiment after peaking around $0.000017.
These alarming results have reduced the chatter around these top meme coins but brought utility-driven projects like Remittix into the spotlight. The new altcoin has surged by more than 500% since the start of its presale, and holders of Dogecoin and Shiba Inu are making the necessary shift.
Remittix shines over top memecoins with 15.4 million raised
Source: Remittix
Instead of banking on comedic charm or market hype, Remittix is focused on addressing practical issues in the market. The altcoin zeroes in on real-life cross-border woes, eliminating high wire fees and lengthy wait times. Unsurprisingly, this innovative approach from Remittix is already bringing Dogecoin and Shiba Inu holders into its fold, raising $15.5 million.
Remittix’s PayFi solution targets freelancers, online retailers, NGOs, and global service providers who need quick, dependable access to funds. For example, a merchant in Southeast Asia can accept payment in crypto from a U.S. buyer and instantly receive fiat through Remittix, saving time and avoiding conversion headaches.
Also, Remittix Pay API allows businesses to accept crypto payments from customers while automatically converting them into FIAT. No more worrying about price swings, and no more dealing with complicated backend systems. Just seamless, secure transactions for any business transaction.
Dogecoin and Shiba Inu holders have recognized the unique gap Remittix is filling in the market. If mainstream adoption of PayFi picks up, Remittix may go full nuclear and produce explosive returns for its investors.
Shiba Inu technical picture arouses investors’ concerns
The Shiba Inu coin is hanging by a thread, with its price teetering on the edge and price action growing weaker each week. This market sentiment persisted even after the SHIB team launched ShibDAO, which empowers users to vote on critical upgrades and proposals.
While Shiba Inu coin investors hope for a change in market sentiment, SHIB’s technical analysis is still alarming. The Shiba Inu coin is trading below all key moving averages, including the 20, 50, 100, and 200-period simple moving averages (SMAs), as well as the 9-period exponential moving average (EMA).
Source: TradingView
This alignment supports a negative outlook, with strong overhead resistance forming around $0.00001400 to $0.00001500, a zone where the price has faced repeated rejection.
Dogecoin price risks a steep decline as Elon Musk hype fades
The Dogecoin price is flashing several red flags on the charts after slipping below major support zones. Notably, DOGE has broken below both its 20-day and 50-day moving averages, while approaching its 100-day SMA.
Source: TradingView
However, these technical complexities are the least concerning for Dogecoin investors as DOGE’s hype fades with Elon Musk’s controversial move. In May, Elon Musk announced his resignation as lead adviser of the Department of Government Efficiency (DOGE).
Although the connection between Dogecoin and Elon’s appointment was loose, the crypto market doesn’t always distinguish between satire and sentiment. In the past, news of this political engagement fueled several price spikes for the Dogecoin price.
Conclusion
Dogecoin and the Shiba Inu coin are crashing hard, and it’s not just the charts. With the hype fading, Remittix is appearing on every investor’s radar with its explosive potential shining bright. RTX tokens are selling online at a discount of $0.0781.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
