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After a series of price declines in the past month, analysts are turning bearish towards Dogecoin. Its lack of utility and long term roadmap is starting to cause issues for the project, causing the Dogecoin community to decline and top investors like Elon Musk to move to other projects.
As a result, price predictions estimate that Shiba Inu may outperform Dogecoin despite Shiba Inu's recent crash. Meanwhile, Collateral Network (COLT), a revolutionary crowdlending project, is projected to increase in value by 3500% during its presale.
Collateral Network has taken a unique approach to DeFi, applying DeFi innovations to the crowdlending market for the first time. Using Collateral Network, individuals will be able to unlock liquidity from valuable assets without needing to sell them physically.
Borrowers looking to unlock cash from their assets start by sending the asset to Collateral Network, where it's valued using AI. Once valued, an asset-backed NFT is created and fractionalized before being sold to investors. Each NFT fraction helps to fund a loan, with lenders being rewarded with a fixed interest rate.
This innovative approach to crowdlending has a number of advantages. Firstly all data is irrefutable and stored on the blockchain. This creates certainty for each transaction and guarantees full transparency. Secondly, the process is significantly faster than traditional options, with funds being acquired within 24 hours, and no unnecessary credit checks.
Given its benefits and potential to revolutionize one of the world's fastest-growing markets, experts believe that Collateral Network (COLT) could surge by 3500% during its presale. This would take its value to $0.35, outperforming Dogecoin and Shiba Inu in the process. To get involved, COLT tokens can be purchased via the presale portal for $0.0201.
Shiba Inu is up by 2.57% in the last 24 hours after hitting a two-year low of $0.00000543. This sharp decline was caused by the recent SEC lawsuit against two of the world's largest exchanges, which caused an industry-wide crash.
However, this crash has also outlined several flaws with Shiba Inu. It highlighted that investors are getting frustrated about its lack of development. The project's Layer-2 scalability platform Shibarium was meant to be released earlier in the year. However, it continues to be delayed.
In addition, the Shiba Inu community's attempt to increase its value by burning tokens is continuously falling short. Although a record amount of tokens have been burned, Shiba Inu's value has dropped, suggesting a new strategy may be needed before Shiba Inu can overtake Dogecoin.
In the past month, Dogecoin has decreased in value by 16.52%. While its value continues to decline, a total of $335 million worth of Dogecoin has been transferred in the past week, which has created suspicion throughout the Dogecoin community.
Although it's difficult to predict what these transactions could mean, many Dogecoin experts believe crypto whales are looking to diversify due to Dogecoin's lack of returns in 2023. This trend is being followed by thousands of investors, who are now selling their Dogecoin to minimize their losses.
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
