Dogecoin (DOGE) is currently trading at $0.09198 and the bulls may be able to push the dog-themed memecoin to $0.09, where it will face heavy resistance. Meanwhile, Shiba Inu (SHIB) is trading at much less, namely at $0.00001443 but could surge soon due to the launch of Shibarium.
Last but not least, we have Collateral Network (COLT) still in its pre-sale, of which analysts are predicting a 35x surge within the next 6 months and tokens trading at $0.01.
Where is Dogecoin (DOGE) Heading in 2023?
The price of Dogecoin (DOGE) is heading towards its 200-day moving average, which acts as a solid support area. Furthermore, Dogecoin (DOGE) seems overbought at a Relative Strength Index of over 90 and then pulled back slightly.
For this reason, cryptocurrency trading experts expect a downtrend on the short to medium-term basis for Dogecoin (DOGE), followed by an uptrend for Dogecoin (DOGE) as soon as January 2023, especially if bulls are to break the $0.09 resistance for Dogecoin (DOGE).
However, the current Dogecoin (DOGE) momentum is bearish but inflecting. The MACD line is below the MACD Signal Line, which suggests that the momentum for Dogecoin (DOGE) could turn into an upswing any moment.
Shiba Inu (SHIB) Increases Burn Rate With Launch of Shibarium
One of the biggest problems with Shiba Inu (SHIB) is that the maximum supply of the token is massive, namely over 500 trillion. However, this might come to an end as soon as Q1 2023.
Recently, the official SHIB Army Twitter account (@theshibdream) has tweeted that Shibarium will launch soon. Shibarium will charge a transaction fee on every transaction on the Shiba Inu (SHIB) chain and then burn those fees, causing the maximum supply of Shiba Inu (SHIB) to go down.
In December 2022, we saw the Shiba Inu (SHIB) burn rate surpass 100% a couple of times and the SHIB Army managed to remove over 20 million Shiba Inu (SHIB) tokens from circulation during the holidays.
Currently, Shiba Inu (SHIB) is trading at $0.00001443 and we expect the Shiba Inu (SHIB) token to maybe shred a zero as Shibarium has launched and is active for at least a month.
Why Analysts Predict Collateral Network (COLT) Will Surge 35x
Collateral Network (COLT), still in pre-sale, is the world’s first crowdlending platform for NFTs that allows users to become their own banks by providing fractional loans to borrowers for an agreed fixed rate of interest.
Borrowers will be able to use their physical assets to release cash without needing to sell their assets through Collateral Network (COLT), at low, competitive interest rates.
Let’s say you have a luxury watch worth $10k and you want a short term loan. Collateral Network (COLT) would then mint a tangible NFT that is physically backed by the watch. This NFT is then fractionalised into smaller fractions, allowing investors with fewer capital to become fractional lenders for an agreed fixed rate of interest.
Borrowers receive cash within 24 hours via Collateral Network (COLT) in a discrete manner – they don’t leave a footprint on their credit file at all. The best thing of it all is that Collateral Network (COLT) is very transparent because all contractual information is stored in the metadata of the NFT and on the publicly available blockchain.
For lenders this is a great way to earn a fixed income on their idle cryptocurrency holdings, similar to staking. However, in the case of Collateral Network (COLT), the digital assets lended are actually backed by a real world physical asset.
The team’s tokens are locked for 3 years whilst the liquidity pool is locked for 33 years, ensuring no rug pull can take place. The initial starting price of Collateral Network (COLT) tokens is $0.01 with a total supply of 1.4bn COLT tokens. 50% of these tokens are available for presale and with these strong fundamentals, analysts are predicting a 35x surge in price within the next 6 months.
Find out more about the Collateral Network presale here:
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