Shiba Inu Transactions Dropped 50% While Dogecoin, BNB, Bitcoin, Ethereum Becomes Bullish
by Analytics Insight
February 4, 2022
This week has not been so for the Shiba Inu community. $SHIB has posted a disappointing performance record. First, the number of transactions dropped by 50%, meaning that the number of trades is reducing. At the same, Shiba Inu lost position #14 to Polygon in the same week. This is at a time when most of the competing cryptocurrencies retained a bullish condition. Read about how these cryptocurrencies performed below.
Before we look at Shiba Inu, Bitgert is one of the crypto projects that investors need to pay more attention to. Bitgert is a cryptocurrency that recorded impressive performance and has been among the recent bullish coins. It is one of the projects doing very well, even in bear markets.
Among the things that stand out about Bitgert are the products the team is developing for the network. The Bitgert has CEX, gasless blockchain, and metaverse product coming as part of 2022. These are the products that are attracting investors and the reason Bitgert has been bullish and one of the fastest-growing cryptocurrencies in 2022.
Another cryptocurrency that is worth considering and has been bullish is Centcex. This is a crypto project designed to offer users the best out of their investment. Both the investors and blockchain consumers are assured of getting value from their investment in Centcex. Users of the Centcex network will be accessing a vast range of high-quality, ultra-secure, and user-friendly products.
On the other hand, investors will be getting huge returns for the rewards. The Centcex staking process has 100% APY going to the token stakers. This is huge revenue considering the number of Centcex products is unlimited. This is why Centcex is a good project and has been bullish.
Despite the developments that have been going on at the Shiba Inu network, the coin hard one of the toughest weeks. With the transaction dropping by 50%, Shiba became of the cryptocurrencies that performed poorly. In addition to that, Shiba Inu gave in pressure on the market and relinquished the #14 position to Polygon.
The cryptocurrency is now #15, which is not good news for the Shiba token holders. This drop comes at a time when the team has introduced the Shiberse, a metaverse platform for this network. Shiba Inu still has the potential to be one of the best performers of 2022, but the team needs to do more to convince the crypto community. More products need to be launched.
Although Bitcoin has retested, the coin has been one of the biggest performances in the bull market. The cryptocurrency has been bullish the whole day and could be one of the best gainers heading to this weekend. Despite the market bull condition, Bitcoin is one of the highly potent cryptocurrencies of 2022. Bitcoin is one of the digital currencies that have been gaining adoption across the world.
There are so millions of merchants that will allow customers to pay using Bitcoin. That is why it is increasingly growing in popularity. With the growing use of Bitcoin as storage of value, it is projected that the coin demand will continue growing. Buying some Bitcoin today might be a good idea.
Ethereum has been bullish for the last two days. The cryptocurrency is today among the best gainers after recovering from the recent plunge. The bullish condition of Ethereum has been a result of several factors. One of these factors is the demand Ethereum is creating in the market. The widely anticipated Ethereum upgrade is one of the reasons why investors are buying more.
The team at Ethereum is already making big moves with the upgrade now in the second stage. There have been many promising gains, with the latest being the improvement in hash rate due to the effects of the PoS protocol. As the upgrade continues, the Ethereum coin is going to grow bullish.
The bullish condition of Dogecoin has been impressive, especially after the dip the coin is coming from. One of the things worth noting about Dogecoin is that the team has been making big and smart moves. The adoption of the Dogecoin has been great in 2022, which big brands such as tesla now being the latest to accept $DOGE.
There has also been intensive marketing of Dogecoin, and this can be seen from the frequent Twitter trendings. The involvement of Elon Musk in this project has been a smart move to market the coin. It is one of the reasons Dogecoin is bullish.
When Shiba Inu was dropping transaction volume and losing positions, Binance coin was growing bullish. The cryptocurrency is entering the weekend as one of the biggest gainers. This can be seen for the green zone that the Binance coin has been in the last 2 days and also the percentage the coin has posted.
There are many expectations that Binance coin might be one of the best performers this weekend and moving forward. With the expected growth in the demand for BSC and the Binance DEX, the demand for this cryptocurrency will increase automatically. That’s how the crypto coin will maintain bullish growth and probably hit a new ATH in a few months’ time.
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