Shiba Inu (SHIB) Bullish Momentum is threatened by the exceptional growth of this new memecoin contender

Competition remains fierce in the memecoin arena, and the old strategy of a viral mascot is no longer enough. The pivot towards utility has been the distinguishing factor between projects sinking and those thriving.

Dogecoin (DOGE) has rapidly fallen behind Shiba Inu (SHIB), and the deployment of the new layer two scaling solution, Shibarium, is the cause. But even Shiba Inu’s (SHIB) bullish momentum is threatened by the exceptional growth of this new memecoin contender.

DigiToads (TOADS) is the new kid on the block, and it is in a league of its own regarding utility for end users. Already eclipsed $6.7 million in its presale and dubbed one of the best altcoins to invest in this year. Will DigiToads succeed in taking the crown?

DigiToads (TOADS) Looks to Dethrone Shiba Inu, Dogecoin, and Pepe

DigiToads has enjoyed a roaring presale, and analysts chart this success to the protocol’s broad market appeal and the immense value proposition of the native ecosystem, The Swamp.

Different groups of investors have participated aggressively, and the incremental price increases have already netted early participants gains of 400%. The native token, $TOADS, is currently available for just $0.05 and will jump to $0.055 at launch. Alongside this, the presale has no vesting period, another big draw for investors.

Toad Cade, the ecosystem’s play-to-earn game, has proven a hit amongst GameFi enthusiasts. Players battle toad NFTs and the top 25% walk away with part of the prize pool every season. The in-game store allows players to upgrade their toads and increase their chances of victory.

NFT collectors have been buying up the DigiToads NFT Collection, and this 3,500-strong collection features toad-themed twists on famous characters. These NFTs can be staked thanks to The Swamp’s NFT Staking mechanic, and stakers receive consistent payouts. This makes them excellent NFTs to invest in.

And traders make up another significant group with the Platinum Toads initiative allowing them to trade with the TOADS’ treasury and keep 10% of profits. Analysts stated that this active treasury management stratagem is one of the ecosystem’s most bullish components, and they believe it could propel $TOADS towards 100X growth.

DigiToads cannot be ignored in the race to become the memecoin king, and $TOADS has already been touted as one of the altcoins to watch in the coming bull market.

Shiba Inu (SHIB) Shibarium’s Impressive Growth

Shiba Inu (SHIB) has posted impressive growth metrics at the technical level, and its price has followed, establishing bullish momentum. This dog-themed competitor to Dogecoin (DOGE) has reminded investors why it was once perceived as one of the top altcoins.

Shibarium has executed nearly 35 million transactions and adds an excellent source of organic buy pressure for $SHIB and the other native ERC20 coins, $BONE, and $LEASH.

Analysts have acknowledged the utility overhaul citing an expected range between $0.00002015 and $0.00002379 for $SHIB in 2024. However, memecoins investors remain fickle, and even the new layer two scaling solution cannot compete with the readily available cash flows present with The Swamp.

Closing Thoughts: A New Cycle Means New Superstars

Older projects fight an uphill battle. They have to compete with new DeFi projects with better tokenomics models and, crucially, projects not weighed down by investors holding at unrealized losses.

Shiba Inu’s (SHIB) deflationary campaign has been brilliant for the price, and when DigiToads’ even more aggressive burning campaign begins, analysts expect hockey stick growth. Participate in the presale today and become an early adopter in the TOADS community!

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Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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