Bitcoin’s next halving event is less than six months away. This event is significant not only for Bitcoin but the entire cryptocurrency industry. It signals the start of another bull cycle—a season of explosive growth within the cryptoverse.
One of the biggest gainers from the 2021 bull cycle was Shiba Inu (SHIB). Shiba Inu rose more than 46,000,000% in a few months and made a lot of millionaires along the way. But then it came crashing down, wiping out the gains as quickly as it had made them. SHIB is currently trading around 90% below its all-time high.
Enter another crypto sensation, Retik Finance (RETIK). The new market entrant is said to be replicating Shiba Inu’s 2021 demand in its ongoing presale campaign. The presale, which can be accessed through the project’s official website, hit the $100,000 mark shortly after going live.
While the two cryptocurrencies differ in several ways, their similar performance has caused market analysts to wonder: does Shiba Inu have enough gas to defend its title against the roaring Retik Finance (RETIK)? This article seeks to provide an answer.
Shiba Inu (SHIB) 2024 Price Prediction
Shiba Inu is a meme coin created in August 2020 by an anonymous person or group using the pseudonym “Ryoshi”. The term meme coins refers to a group of cryptocurrencies that pay homage to popular internet memes, viral internet trends, and pop-cultural references. Meme coins have no real use cases; they are purely recreational.
While Shiba Inu had a successful run in the last bull cycle, 2024 does not appear to be as promising. Firstly, it is important to understand that each bull cycle is different. The narratives that dominated in one may not work as well in the next. The meme coin narrative dominated in 2021, but the market has since evolved, and newer narratives with untapped potential have been born. The rise of fresher meme coins, such as GROK and PEPE, with a smaller market capitalization also challenges SHIB’s position. Not to forget competition from Shiba Inu’s day-one rival, Dogecoin. With these considerations, SHIB’s growth potential looks stifled. Still, experts believe the meme coin may pull a 10x and finish 2024 north of $0.00001.
Why Retik Finance Will Explode in 2024
While Shiba Inu stumbles, RETIK continues to dominate. Its early-stage achievements demonstrate growing investor interest and confidence. Retik Finance is a decentralized finance (DeFi) project that aims to redefine the financial landscape with its innovative solutions. The Retik ecosystem, which includes a smart crypto payment gateway, futuristic DeFi debit cards, AI-powered peer-to-peer (P2P) lending, and a multi-chain DeFi wallet, aims to redefine global transactions.
Retik Finance innovates the banking sector by eliminating the need for centralized financial institutions. Its DeFi debit cards bridge the Web 2.0 and Web 3.0 worlds. They power instant fiat and cryptocurrency payments anywhere in the world. This way, users can spend their crypto holdings directly from their DeFi wallet without the hassle of having to convert to fiat currency and withdraw through centralized exchanges. And, with each transaction, the card holder qualifies for a cashback of up to 5%.
Retik’s payment gateway, Retik Pay, provides a safe landing for business owners looking to expand their customer base by incorporating crypto payments. Retik Pay is cheap, secure, and can be used from anywhere in the world.
Retik Wallet ties the whole ecosystem together, allowing access to all traditional DeFi activities and more. The wallet is non-custodial and features several layers of security to ensure the complete safety of funds. Retik’s AI-powered peer-to-peer (P2P) lending is the first of its kind, offering borrowers and lenders a cutting-edge experience.
Utility vs Meme: RETIK vs SHIB
Retik’s innovative DeFi products give the RETIK token one key advantage over SHIB: utility. SHIB lacks real-world utility and, as such, derives value solely from internet hype. RETIK, on the other hand, is a multifunctional token with a range of use cases within its parent ecosystem. The token is used for staking, cashback rewards, governance, and transaction processing. Coupled with innovation, these use cases give RETIK a stronger position in the crypto industry. They are also catalysts for a sustained bull market.
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