The Current Token Trends: Why Shiba Inu (SHIB), Dogecoin (DOGE), and RenQ Finance (RENQ) Are Dominating
Cryptocurrencies Shiba Inu (SHIB), Dogecoin (DOGE), and RenQ Finance (RENQ) have become the most trending tokens recently. SHIB is a decentralized cryptocurrency native to the ShibaSwap decentralized exchange, built on the Ethereum blockchain that has low transaction fees and scarcity. It has recently experienced a 10% drop in the past 24 hours amid drama surrounding the codebase of the upcoming Shibarium upgrade scheduled for March 2023. DOGE, a cryptocurrency based on the Shiba Inu dog meme, has become popular due to low transaction fees and the support of high-profile figures such as Elon Musk and Mark Cuban. Recently, predictions that the meme coin is set to gain 50 times more value in 2023 has further fueled interest in it. RenQ Finance, a DeFi platform operating on the Ethereum blockchain, has gained popularity due to its potential for growth and its strong community of supporters. Its native token, RENQ, has been on an upward trend since reaching an all-time high of $0.030 in March 2021. RenQ Finance offers successful presale stages, with each phase selling out quickly, indicating a positive signal for the platform. Furthermore, the announcement of passing the robust Certik audit test has also contributed to the token’s rising trend. Many experts predict that RENQ has the potential to become a major player in the DeFi space, making it an attractive option for long-term growth-seeking investors. Despite the recent gains, some experts remain skeptical about the long-term prospects of dogecoin. They point out that the cryptocurrency was created as a joke and lacks the fundamental value that other cryptocurrencies possess. Additionally, dogecoin’s transaction processing times are slower compared to other popular cryptocurrencies like Bitcoin and Ethereum.