Shiba Inu and Ethena Fall Back As Raboo Emerges As Analysts 2024 Top Pick

Meme coins are staging a crypto comeback in light of Bitcoin’s severe decline, but Shiba Inu (SHIB) isn’t quite among the gainers yet. SHIB has been busy with reducing its token supply for over a year now, as the vast supply definitely hinders growth. Ethena (ENA), on the other hand, took a bearish turn as June unfolded, and the ENA price is yet to recover.

Raboo’s the future of memes, and while most meme coins are only about the present, Raboo’s plans cater for the future, too. Profits, check. AI integrations, check. Quality memes and fun, double-check.

Read on for more on Raboo’s plans and presale.

Shiba Inu is stuck with token burning

Unlike many other meme coins, Shiba Inu has not been as impressive with its gains this year despite some major wins. Shiba Inu was one of the stars of the show at the last Bitcoin halving, so much that many investors kept their Shiba Inu assets this year as they hoped for huge returns.

The huge returns are yet to come, but it’s not entirely down to the Shiba Inu project. The deflationary measures the community instituted in 2022 have helped reduce the token supply drastically, and Shibarium launched last year, even though the excitement was short-lived. Bitcoin’s bearish slump set the SHIB price back by a lot, leaving the token to work out recovery on its own.

Now, even the big investors are dropping their SHIB investments. Robinhood transferred out 2.2 trillion SHIB tokens, and that has raised questions over the SHIB price. It might be a bearish few weeks for the ‘Dogecoin killer’.

Ethena price slumps after phishing attack

2024 has seen top tokens launch into mainstream crypto, but there’s been scarcely a DeFi project to beat Ethena’s launch. The ENA price doubled in the first week, and before long, traders grew familiar with Ethena’s protocol.

Its synthetic dollar stablecoin, USDe, has brought several traders to its platform, especially with its huge staking APYs. However, scalpers and hackers have joined the influx of traders, and Ethena is on the receiving end. Its latest upgrade to ENA’s tokenomics was poorly received by the users, and we have had reports of phishing attacks on Ethena.

The scalpers induce bullish trends and then take profit, preventing the platform from going and making long-term investors lose interest. The phishing attacks have also been a call for concern, as Ethena has dipped to an all-time low at $0.5275.

There might be some hope for Ethena still, as investors are likely to buy the dip, now that it looks more attractive. However, Raboo is the token for the moment, and the $RABT presale is pulling quite the crowd.

Here’s why.

Raboo: Tokenomics for longevity

One striking feature of average meme coins is that they are so rarely relevant for extended periods. For instance, Pepe was the star of the crypto-verse last month, and it has been trading under due to being overbought.

Raboo intends to prevent those very scenarios and that’s why the token is incorporating features for the long-term. An example is its new generative AI algorithm, Rabooscan. Integrating a generative AI in its meme creation process is Raboo’s way of placing a stake in the fast-growing AI market.

With Bloomberg Intelligence predicting that the generative AI market could be worth $1.3 trillion in 6 years, Raboo certainly doesn’t want to miss out on that.

The next step for longevity is placing a major part of the $RABT token supply in the hands of the users. The presale offers 63% (just over 1.1 billion $RABT) of the tokens to the Raboo community, allowing them to control decision-making and innovation.

Also, members who contribute their meme-worthy content to the platform get tokens from the rewards pool on Raboo. There are about 135 million tokens to incentivize the meme-making process. So, members won’t only be having fun with making memes, they will be getting rewarded for it!

Conclusion

The Raboo presale is a step to lifelong profits, even among meme coins. The earliest buyers are already on 60% ROI, as the $RABT tokens went from $0.003 to $0.0048.

That’s your cue to join in the event. The presale pool offers 233% by launch day, so you still have some ROI to claim when Raboo launches. The big fish, however, is the 100x forecast when $RABT coins get listed on a top-tier exchange.