Cryptocurrency has become an increasingly popular investment option for many people worldwide. With the rise of Bitcoin, a vast number of other digital currencies have emerged in the market, each with its unique features and potential for growth.
The cryptocurrency market is currently buzzing with excitement as three tokens, Shiba Inu (SHIB), Dogecoin (DOGE), and RenQ Finance (RENQ), have become the most talked-about and trending cryptocurrencies. While SHIB and DOGE have made headlines with their recent explosive price movements, RenQ Finance has been gaining popularity for its unique features and promising potential.
In this article, we will look at why Shiba Inu (SHIB), Dogecoin (DOGE), and RenQ Finance (RENQ) are the most trending tokens right now.
Shiba Inu (SHIB)
Shiba Inu is a decentralized cryptocurrency built on the Ethereum blockchain that has gained significant popularity in the crypto world. It is the native token of the ShibaSwap decentralized exchange, which was launched in July 2021. SHIB has several unique features that have contributed to its popularity, such as its low transaction fees and its scarcity, with only 1 quadrillion tokens in circulation. Additionally, its adorable mascot, the Shiba Inu dog, has become a viral meme in the crypto community.
The reason why Shiba Inu (SHIB) is currently trending is due to the upcoming Shibarium upgrade, scheduled for March 2023. This upgrade is expected to be a next-generation layer 2 blockchains that will allow developers on Shiba Inu to create off-chain systems on top of layer 1 protocols, which will significantly reduce scalability and interoperability bottlenecks.
Despite the upcoming upgrade, SHIB prices recently experienced a 10% drop in the past 24 hours amid drama surrounding the codebase of the Shibarium blockchain. However, SHIB has still managed to stay strong, currently sitting at a 24-hour gain of +1.20%. It has a circulating supply of 589.36 trillion SHIB coins and a maximum supply of — SHIB coins. SHIB ranks 14th by market cap, with a 24-hour high of $0.00001031 recorded on March 11, 2023, and a 24-hour low of $0.00000995 recorded on the same day.
Dogecoin, a cryptocurrency created in 2013 as a joke based on the Shiba Inu dog meme, has become one of the most talked-about digital assets in recent years. Despite its origins as a humorous project, Dogecoin has gained a significant following due to its low transaction fees and the support of high-profile figures such as Elon Musk and Mark Cuban.
In addition to the celebrity endorsements, another factor that has contributed to Dogecoin’s recent surge in popularity is the prediction that the meme coin is set to gain 50 times more value in 2023. This forecast has further fueled interest in Dogecoin and has attracted many investors to the cryptocurrency.
As of now, Dogecoin’s price is US$0.07846, with a 24-hour trading volume of $570.65 million. The cryptocurrency has experienced a 5.25% increase in the last 24 hours, and it is currently 0.91% away from its 7-day all-time high of $0.07775. However, it is still 24.95% lower than its 7-day all-time low of $0.06279. Dogecoin has a circulating supply of 132.67 billion DOGE.
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.
RenQ Finance (RENQ)
RenQ Finance is a DeFi platform that operates on the Ethereum blockchain, with its native token RENQ gaining significant popularity due to its potential for growth and its strong community of supporters.
Currently, RenQ Finance is trending due to its successful presale stages, with each phase selling out quickly, indicating a positive sign for the platform. Furthermore, the announcement of passing the robust Certik audit test has also contributed to the token’s rising trend, as investors gain more trust in the platform and seek to invest for gains.
In March 2023, RENQ reached an all-time high of $0.030 and has been on an upward trend ever since. 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.
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