Shiba Inu and Cardano continue to trade in a tight consolidation range with little volatility, amid the bullish momentum in the crypto market. This lagging price action has not gone unnoticed, especially as whales move their funds to Remittix, whose real-world utility is taking the market by storm.
Rather than relying on memes or slow updates, Remittix zeroes in on real financial issues affecting the global payment sector. Has Remittix positioned itself on the path to a price explosion that could displace crypto giants like Solana? Let’s find out!
Remittix (RTX): Real-world utility shines over hype
With meme coin confidence waning, whales have increasingly turned their attention to utility-driven Remittix. Trading at just $0.0781, Remittix has raised over $15.4 million in presale funding, selling more than 540 million tokens. This impressive performance shows investor confidence, driven by Remittix’s real-world utility, which is cementing its place in the high upside potential conversation.
With Remittix, market participants can convert Solana, Bitcoin, and Cardano into any local currency at the cheapest fees in the market. This model provides a reliable value rather than the speculative hype common with Dogecoin.
Moreover, Remittix’s sophisticated crypto-to-fiat payment network is designed for efficiency and transparency. Users can leverage over 100 different cryptocurrencies to send funds globally, with recipients receiving payments without knowing the transaction originated from crypto.
Shiba Inu and Cardano whales have recognized Remittix’s potential. If mainstream adoption of PayFi picks up, Remittix may thrive long after memes have faded away. Many analysts label Remittix as one of the few new coins addressing a global issue, rather than trying to piggyback on dog images or cultural references. That utility advantage is why RTX can achieve 10x, even in a lukewarm market for meme coins.
Shiba Inu’s liquidity weakens as whale inflows plunge 83%
The Shiba Inu ecosystem is facing challenges. IntoTheBlock reports a significant plunge in whale activity over the past month. Notably, SHIB’s large inflows plummeted to under 2 trillion from 8 trillion – a staggering 83% decline.
At the same time, outflows dipped by over 80%, reflecting an enormous plunge in large holder transactions. These negative developments indicate liquidity contraction, with large-scale traders (responsible for massive volume price action) refraining from active trading.
The adverse trend reflects in Shiba Inu’s technical analysis. Its price action has been flirting with major support zones while being trapped between major moving averages on the daily chart.
Cardano stuck at key support as investors exit
Cardano’s price has been trading in a tight consolidation range in May, with its price action raising concerns. Cardano has formed a descending channel, also known as a falling channel. This pattern’s upper trendline (lower highs) indicates a sharp resistance around $0.82.
Meanwhile, the number of unique investors on the Cardano blockchain, where ADA is native, has dropped significantly. According to Artemis, the count of active addresses—representing active investors—has declined by 40,000 on the charts. Such a decline could be a sign of waning interest in trading on Cardano, especially with its price action stalling.
The Futures market highlighted this shift, underlining a hike in selling activity during this period. The Taker Buy/Sell Ratio was below 1 with a reading of 0.9531, too, confirming bearish sentiments across the market.
Conclusion
Cardano and Shiba Inu whales moving their holdings to Remittix indicates the growing concerns in ADA and SHIB’s price action. This move to a real-world utility token, Remittix, represents a shift towards sustainable growth as against hype-driven rallies, characterized by risks and rapid volatility.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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