Shiba Inu, the popular meme-inspired cryptocurrency, has been the headliner in the crypto space due to its various developments, such as the imminent launch of Shibarium. While these developments have generated buzz among the cryptocurrency community, Avorak Trade, a blockchain and AI-powered trading bot, notes that the Shiba Inu news may not be enough to drive up the SHIB price. Let's examine this interpretation.
Shiba Inu (SHIB)
As a rival to Dogecoin, the Shiba Inu cryptocurrency is based on the popular Shiba Inu dog meme. As a meme-based currency competing with DOGE, SHIB relies heavily on community hype and endorsements from influencers like Lucie Sasnikova, Snoop Dogg, and Elon Musk. The Shiba Inu ecosystem runs on the Ethereum blockchain and includes three unique tokens, SHIB, LEASH, and BONE, each performing a specific function in the project.
Shiba Inu introduced the 3 tokens to find real use cases for their ecosystem. Moreover, Shiba Inu is increasing its popularity on Dogecoin thanks to its new developments in its ecosystem. Recent Shiba Inu news has highlighted Shibarium's development team's focus on working towards its launch. Shibarium, a layer 2 blockchain, is currently in beta testing.
Avorak IA (AVRK)
Avorak AI is a complete solution for individuals and blockchains, enabling simplified execution of human-led tasks. Avorak bundles all of these solutions into a one-stop-shop portfolio. It deploys advanced trading bots, chatbots and image generators using machine learning algorithms and is optimistic that these tools will perform exceptionally well during the beta testing phase.
The Avorak AI ICO, currently in phase six, saw the AVRK token surge 291.67% to $0.235. The project rewards early ICO holders with bonuses, priority staking, and 17X earnings on investment at an introductory price of $1. Avorak AI is expected to list on Azbit, PancakeSwap, Coinsbit, and LAToken exchanges on July 16. Avorak's record performance has not gone unnoticed by enthusiastic investors and crypto analysts. The house of crypto focuses on Avorak's 100X potential and believes that AVRK is a small-cap altcoin gem that can enrich investors' portfolios.
Avorak AI's portfolio of text generators strives for error-free, non-repetitive and original content that matches the writing style desired by the user. Avorak Write solves the shortcomings of existing writing assistants.
How does Avorak Trade interpret Shiba Inu news?
According to Avorak Trade's analysis, the current Shiba Inu market capitalization and circulating supply could make it difficult to significantly increase the SHIB price. Although the demand for Shiba Inu has increased due to its popularity, it may not be enough to overcome these market factors. Avorak AI's trading bot analyzes the markets 24/7 while recording valuable price signals that could affect cryptocurrency prices. Moreover, Avorak Trade manages large historical data using advanced algorithms and projects accurate price predictions.
Additionally, Avorak AI notes that hype can contribute to its volatility and affirms the importance of conducting thorough research before making cryptocurrency investment decisions.
While Avorak Trade's prediction may not be encouraging for Shiba Inu investors, it does highlight the role of developing real-world use cases for cryptocurrencies. As its ICO presale has shown, Avorak's true utility AI tools have high demand and are driving its price to greater heights.
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