The crypto market is busy, and with the dozens of fresh developments happening at the tick of every second, it can be difficult to stay updated. Three tokens—Dogecoin (DOGE), Shiba Inu (SHIB), and Retik Finance (RETIK)—have been making headlines this week.
Dogecoin for its dismal performance in the past week, Shiba Inu (SHIB) for its declining burn rate, and Retik Finance (RETIK) for landing a sponsorship deal at the upcoming World Blockchain Summit in Thailand.
Let’s break down each of these developments and catch you up to speed.
Dogecoin (DOGE) waiting for some help from Elon as the price hits new lows
Dogecoin has continued its bearish streak this week with a 7.09% decline in the past 24 hours. DOGE has remained unprofitable despite most of the crypto market trending higher. Dogecoin’s current price of $0.096 is 87% lower than its all-time high.
Dogecoin’s rally started in mid-April and peaked on May 8, 2021. The coin soared over 23,000% that year, primarily due to Elon Musk’s backing on Twitter. The billionaire would constantly tweet in support of the coin, sparking fresh rallies. When asked why he loves Dogecoin so much, Elon said he “loves dogs and memes.”
After Mr. Musk purchased Twitter in 2022 and announced a paid version of the platform, Dogecoin embarked on another rally, with investors speculating that the coin would be integrated as a means of payment. When this did not happen, Dogecoin resumed a downward trajectory.As we enter another bull cycle, Dogecoin investors are hoping for help from Mr. Musk to save the coin’s price. The billionaire appears to have moved on to other endeavours, leaving Dogecoin and its holders helpless.
Shiba Inu Witnesses 83% Drop in Burn Rate
Shiba Inu’s (SHIB) burn rate has declined for yet another week, reaching its lowest level in recent months. Shibburn statistics show that the weekly burn rate has dropped by 83% in the last week, with only 49,691,122 SHIB burned in 26 transactions. This amounts to only $417.41. While the reason behind the drastic drop remains unclear, it puts the future of Shiba Inu at risk. Shiba Inu has a massive circulating supply of over 500 trillion SHIB, limiting its price growth. Slowing down the burn process keeps the tokens in circulation, which hurts the price of SHIB.
Retik Finance (RETIK) to Sponsor World Blockchain Summit in Thailand
Retik Finance, through their X (Twitter), announced earlier yesterday that they will be a gold-level sponsor at the upcoming World Blockchain Summit. The summit will take place in Bangkok, Thailand, on December 13 and 14. The World Blockchain Summit gathers blockchain technology enthusiasts from all over the world, including Retik’s team.
Retik Finance is a newly launched Ethereum protocol that has taken the financial landscape by storm. Retik Finance features a comprehensive suite of decentralized finance (DeFi) products that disrupt the banking sector.
Its DeFi debit cards enable holders to effortlessly spend crypto on their day-to-day needs. They can also be used at establishments that do not accept direct crypto payments.
The cards are linked to Retik’s Web 3 wallet, allowing instant crypto-to-fiat conversions. The wallet has been rated among the most secure DeFi wallets. It is a one-stop shop for all DeFi activities.
Retik Finance offers a safe avenue for businesses looking to venture into crypto payments with its payment system, Retik Pay. Retik Pay can be integrated with any e-commerce platform, making it easily adoptable for existing businesses. Retik Pay is cheap and usable from anywhere in the world without restrictions.
DeFi debit cards, wallets, and payment gateways are a peek into what the financial sector will look like in the future—decentralized without interference from governments and traditional banks.
Retik Finance, a pioneer in this sector, is holding a token sale. This is an opportunity to invest early in a future market leader. The presale is among the most successful campaigns of 2023, selling out its first stage within 72 hours of launch. This achievement is a testament to rapidly growing investor confidence and trust in the project. Retik is poised for explosive growth in 2024, with up to 100x returns expected by the end of the year.
The project is holding a giveaway to celebrate its early investors. Ten lucky participants will each receive $33,300 for completing simple tasks within Retik’s ecosystem.
Visit the links below for more information about Retik Finance (RETIK):
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