In 2020 and 2021, when Dogecoin (DOGE) and Shiba Inu (SHIB) achieved enormous increases due to all the anticipation and excitement surrounding them, meme coins gained significant widespread appeal.
However, as present-day statistics have proven, the hype could only take investors in both cryptocurrencies so far. The euphoria was quick to fade as of 2022 winter. If we have learnt anything from the cryptocurrency market in 2021 and 2022, it is that only investments in projects with real-world value and long-term viability are worthwhile.
As troubling as the recent drop in the crypto market has been to investors, there is a light at the end of the tunnel. The newly launched cryptocurrency Plona (PLON) is known for its next-gen capabilities of allowing investors the opportunity to invest in luxurious vehicles. PLON is demonstrating long-term viabilities, something we may not have seen in Doge (DOGE) and Shiba Inu (SHIB), and here’s why.
Is Plona (PLON) the token meant to lead the market?
Plona (PLON) is a newly released cryptocurrency in the blockchain industry, helmed by blockchain experts and car enthusiasts. They aim to bring the luxury car industry to the crypto space by partnering with premium car dealers to provide Plona (PLON) token holders with exclusive networking events. With a total of 1 billion tokens available for distribution, Plona (PLON) has decided to allocate 32% to its presale stage.
As the first stage of the Plona (PLON) token presale begins, its name has been the hot topic throughout the week. Launched as a decentralised cryptocurrency based on the Ethereum blockchain, early Plona (PLON) investors will benefit from a 25% bonus on all platform transactions. With one Plona (PLON) token starting at $0.012 per unit, the platform has passed its audit by Interfi Network, a respected auditing firm in the cryptocurrency industry, branding Plona (PLON) a safe investment.
Now only a toe in the first phase of Plona’s (PLON) presale, investors in Plona (PLON) can own fractions of various expensive and exotic cars from all over the world for only $29. Blockchain analysts forecast that investors in PLON (PLONA) will witness a 3,000% return in the coming months after their purchase, given the platform’s goal to lock up liquidity for five years. Its presales are seeing Plona (PLON) tokens fly off of the shelves. Consider purchasing Plona (PLON) now before it’s too late.
Is Dogecoin (DOGE) evidence that meme coins are no longer trending?
The famous Dogecoin (DOGE) has had little to show for quite some time, facing one of its worse decreases since its initial release. Dogecoin’s (DOGE) price has lost almost 92% of its value from its all-time high, making it nearly impossible to return to even a tiny portion of that level in the coming year.
Until now, Dogecoin (DOGE) has experienced a phenomenal run since its launch, getting support from the billionaires like Elon Musk, which initially brought it into the top 10 cryptocurrencies by market valuation. Dogecoin’s (DOGE) market value ranked in fourth place when its price reached $0.72, with a capitalisation of over $70 billion.
However, Dogecoin’s (DOGE) recent -4% drop in price this week has started worrying its investors. Perhaps next week might bring forth different results. As of now, coins like Plona (PLON) token might be worth your consideration if you are looking to invest in a cryptocurrency performing at its peak.
Shiba Inu (SHIB) aim to recover from its -7% drop this week.
Shiba Inu (SHIB) is a meme coin created in response to Dogecoin’s (DOGE) success. Often described as a meme within a meme, Shiba Inu also had an incredible run in 2021 that made many early investors wealthy around the time of meme coin season, propelling Shiba Inu to the top seven on the list of prominent cryptocurrencies with a market worth of $52 billion.
Shiba Inu shares nearly an identical story to Dogecoin, from being widely spoken about in its prime years and showing vast interest from investors to plummeting in the cryptocurrency market in the winter of 2022. Similar to Doge (DOGE), Shiba Inu’s week has likewise seen no progress, dipping by over -7%.
Despite its downward trend, analysts are still optimistic and unsure whether or not Shiba Inu(SHIB) will remain in this form for long. How long? That’s a question only time will tell.
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