Even with the recent rise of meme coins, Shiba Inu (SHIB) continues to trend downwards. This has led to speculations on whether the trending Avorak AI (AVRK) could be a better long-term hold.
The Shiba Inu (SHIB) price has been experiencing a significant downward trend over the past weeks, reaching levels not seen since the FTX saga. The SHIB price struggle has been largely attributed to stiff competition in the crypto market. New meme coins like Pepe Coin (PEPE), which ranked among the top 100 cryptocurrencies by market cap weeks after release, have taken the market by storm. Additionally, AI crypto projects have been predicted to overtake meme coins in popularity soon. The drop has caused many investors to question whether SHIB is a viable investment.
Shiba Inu price prediction
Despite SHIB’s drop, there are some positive indicators. On-chain data indicates that large holders of SHIB have been accumulating the token. This suggests that these investors are confident in the future of SHIB and see the potential for its value to increase. Additionally, the Shiba Inu development team, with the support of the Shib army, seeks to increase the utility of SHIB through developments and upgrades of its ecosystem. This could potentially lead to an increase in SHIB’s value. However, the recent favor of new meme coins suggests that investor preferences have switched to hunting for the next 100x gem as opposed to investing in older, more established projects. Nonetheless, the crypto market is unpredictable, and it remains to be seen whether SHIB can revive from its downtrend.
Why is Avorak AI (AVRK) a better hold?
Avorak AI aims to help businesses and individuals scale their operations through its advanced, first-to-market, easy-to-use AI solutions. Avorak guarantees that users can’t find these solutions anywhere else. For example, The Avorak trade bot can be used to automate trades on different exchanges and asset classes. The bot uses a non-code-based command-line user input. Avorak’s AI trading bot also provides large sets of indicators and alerts traders in case of trend and pattern changes using overlays and notification systems.
Avorak’s extensive list of solutions includes chatbots, security monitors, image generators, text creators, and so much more. To gain access to the Avorak ecosystem and its solutions, users require its native utility token, AVRK. The token can be traded on crypto exchanges or staked in any of Avorak’s three staking pools. AVRK has a maximum supply of 40 million, with a burn mechanism that causes its continuous deflation. With the use of AI algorithms in the Avorak ecosystem, the use cases of AVRK are unlimited.
Avorak’s competitive advantages could see it lead the AI crypto wave. With many investors looking for crypto gems, analysts have suggested AVRK for those who missed PEPE. This is because AVRK is selling at discounted prices with benefits such as token bonuses and priority staking in Avorak’s initial coin offering (ICO). AVRK is currently selling at $0.235 with a 5% bonus in phase 6.
Avorak AI (AVRK) is a more compelling choice for a long-term hold. However, investors should still do the due diligence before making commitments.
For more information on Avorak AI and its ICO:
Buy AVRK: https://invest.avorak.ai/register
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.