Sell-Off in Shiba Inu and Pi Network Sparks Investor Rotation Toward a Fast-Growing Challenger

The Shiba Inu coin and Pi have joined the list of some of the crypto assets seeing a huge sell-off lately. This includes exit from retail traders and top market takers, with the Pi Network coin falling off even before takeoff. As a result of this ongoing sell-off, investors are now joining the lineup of traders towards better-performing crypto assets.

There is a lot to understand about the current Shiba Inu coin and why the Pi network coin is underperforming right now.

Why The Shiba Inu Coin Remains Underperforming In An Altcoin Season

While all other coins that are not Bitcoin have been generally categorised as altcoins, the Shiba Inu coin’s performance lately could be stripping it of that title. This is as the Shiba Inu coin continues on a 17% price fall since last month, even while other coins saw a pump in early August. Additionally, the current price setup suggests the potential for a price recovery in the Shiba Inu coin is being written off, as it has broken below the 30EMA. 

One point that has remained absolutely true about the Shiba Inu coin performance this period is that investors are exiting the meme coin. Analyst opinion suggests that the period of meme coin reliance on hype may be nearing its end in the crypto market.

This is because the market gets flooded with new utility tokens that are addressing real-world issues using cryptocurrency. The current price of the Shiba Inu coin shows a downward roll, respecting a bearish trend line from the $0.00001756 from mid-May.

Why The Pi Network Coin Is Not Pumping Like Other New Altcoins

Although the Pi network coin has only recently entered the market, it has been on people’s radar since 2020. However, while the Pi network has built a popularity and community for itself with the mining app, it has also created an opportunity for instant dumping.

This is because while the mining process helped users gain some tokens, the delayed launch fueled anticipation to sell off from miners. Hence, while the Pi team has continued creating new solutions and products, miners have only seen every pump as an opportunity to sell.

Furthermore, although the Pi network team had announced a work in progress to make the Pi network coin asset for retail trading in Asia, it has not really yielded any results. As a result, top traders who joined the coin in the early days are now also selling their Pi coin.

By implication, the price is now trading at $0.35, a fall of about 88% from its opening week high of $2.98.

Why Remittix Could Be A Challenger For 10x Surge In The Next 4 Months

Remittix’s proposition is fueling interest not just in its pre-launch but also in its post-launch performance as analysts project 10x before November. This is due to its novel approach to payment, which is already garnering rapid support for cross-border transactions. But, more importantly, as Remittix nears an official launch on CEX, analysts say it could see a significant rally, driving 10x in the first 4 weeks.

Here are some of the factors that investors and analysts have been talking about regarding the Remittix surge potential:

• Wallet launch slated for September 
• An already completed smart contract audit by CertiK
• BitMart’s announcement of an official listing on its exchange
• And cross-border payment adoption

Remittix tops the Shiba Inu coin and Pi Network outlook this period as it remained bullish even in the face of a market correction.

Discover the future of PayFi with Remittix by checking out their project here:

Website: https://remittix.io/  

Socials: https://linktr.ee/remittix 

$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway