Dogecoin (DOGE) and Injective (INJ) are two of the biggest cryptocurrencies, thanks majorly to support from investors since they launched. However, investors have been in a fix as these prominent cryptos struggle to stay above support levels.
As they continue to struggle, investors have continued to move to other investment options, with Web 3, now one of the best options. Within the Web 3 ecosystem, Yachtify has been making waves and claiming a lot of these investors. In this article, we will stack these projects against each other and see how they compare.
Yachtify (YCHT) is Creating a Unique Investment Opportunity
The private yacht lease market has seen unprecedented growth following the COVID-19 pandemic. However, due to the cost of owning a yacht, ski, or speedboat, only a handful of investors have been able to get involved in the industry.
Yachtify will be breaking down those barriers by allowing investors to be able to own a portion of these luxury items via fractionalized NFTs. Yachtify wants to establish a marketplace that enables individuals to earn passive income by investing and owning fractions of boats.
These NFTs will be backed by the actual boats and owners will receive a portion of the rental income proportionate to their overall stake when their boat is rented out. Also, Yachtify will offer discounted private yacht charters, free sailing lessons, and free yacht offerings. The project has passed its audit, vetting the status of the products it offers as 100%.
The first phase of Yachtify’s token presale is ongoing. $YCHT is currently being sold at a rate of $0.10 per token. Following the launch of the project, there is potential for this price to surge to $0.15 even in presale and up to 100x upon launch.
Dogecoin (DOGE) Struggles as Twitter Layoff Staff
Dogecoin (DOGE), the number one meme coin, has long been one of Elon Musk’s favorite digital assets, so much so that for a while the Shiba Inu logo of Dogecoin (DOGE) was used as Twitter’s logo.
The relationship between Musk and Dogecoin (DOGE) can breed negative sentiments just as it often leads to bull runs. Today, Dogecoin (DOGE) is struggling as Musk announced that Twitter was letting go of 1,000 employees.
According to data from CoinMarketCap, the price of Dogecoin (DOGE) is down by 7% this week. Even more concerning for investors is that Dogecoin (DOGE) is up by only 10% year-to-date in what has been a bullish year for cryptos.
Injective (INJ) Price Plunges
Injective (INJ), the first platform to offer auto-executing smart contracts, after enjoying one of the best starts to 2023, has been on a steep downtrend. Injective (INJ) is down by more than 6% today, making it one of the worst-performing cryptos.
The reason why investors appear to be dumping Injective (INJ) is because of its inability to hold support levels. In the last seven days, the price of Injective (INJ) has plunged by more than 17%.
Injective (INJ) now trades at $7.4 despite reaching highs of $9.98 earlier this week. If the price of Injective (INJ) fails to hold its support at $7.2, we could see the price of the token fall as low as $6.5.
Find out more about the Yachtify (YCHT) presale:
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