Due to the recent downturn that plagued the crypto market, established players like Shiba Inu (SHIB) and Polkadot (DOT) experienced notable price drops, putting investors at a loss. As a result, market players are turning to a new AI coin as it gears up for an explosive upward move.
Let’s find out everything there is to know about this AI coin!
Shiba Inu Holders Burn More Than 20 Million Coins: Here’s Why
Shibburn, a SHIB burn tracking platform, reported that the Shiba Inu community had burned a massive amount of SHIB tokens during the latest burn move. In the last 24 hours, the community sent over 20 million SHIB to a dead wallet, boosting its burn rate by 1,987%.
The Shiba Inu burn activity was accomplished by Ethereum’s co-founder Vitalik Buterin, a well-known fan of the meme coin. The burning was done in batches, with one transaction involving half the total number of tokens burned.
While the daily burn percentage rose, the weekly rate fell. Notably, only 175 million SHIB tokens were burned over the week, culminating in a 92.69% difference from previous weeks.
This burn is expected to boost SHIB’s price in the long run, but it remains to be seen if Shiba Inu will react accordingly. Meanwhile, SHIB is down 3.53% to $0.000026 in the last 24 hours.
Expert Sets $30 as the Next Target For Polkadot After Successful Price Retest
World of Charts, a renowned crypto analyst, has commented on Polkadot’s outlook after DOT successfully retested a key support level. In an X post on December 16, 2024, the analyst suggested that DOT may be gearing up for a rally, pushing the price to $30.
The last time Polkadot reached this price level was in 2021, during the bull market, when it peaked at $55. After the bear market hit, DOT entered a stretched-out bearish phase, shedding a significant portion of its market value.
DOT has traded within a descending trendline for the last two years, testing lower support levels until bottoming out between $4 and $5 by the middle of 2023. However, Polkadot bounced back from these lows, rising as high as $10 twice this year
With DOT on the verge of a rally, it must break resistance at $12 and $14 to begin its journey towards $30. In the meantime, it has gained 1.90% in the last 24 hours to settle at $8.88.
Investors Turn to IntelMarkets as Bearish Pressure Mounts
With SHIB and DOT bound to the bears, investors are shifting to the new AI coin IntelMarkets (INTL). INTL is one of the top-performing assets of 2024, boasting a 711% year-to-date (YTD) gain.
However, INTL isn’t the only attractive commodity in the IntelMarkets ecosystem. The AI-powered perpetual contracts exchange also has many exciting features under the hood.
One of them is its AI-driven trading robots, which traders and investors can employ while trading over 10,000 crypto assets available on the exchange. These bots will enable them to make informed decisions as they diversify and improve their results.
Also, with IntelMarkets offering 1,000x leverage, traders and investors can multiply their potential gains on every trade. These offerings and INTL’s profit potential make IntelMarkets the preferred option for SHIB and DOT investors.
DOT And SHIB Investors Buy INTL: What to Expect From the AI Coin?
Seeing its profit potential, DOT and SHIB investors are repositioning to INTL to recoup losses and amass more gains. The AI coin offers a 100x gain prospect, making it the ideal crypto to buy.
INTL is available for $0.073 in Stage 8 of its ongoing public presale. Although early participants have secured over 700% profits, new investors can secure a 50% return on their investments as INTL aims for a launch price of $0.110.
With INTL’s presale selling out fast, the best time to buy the AI coin is now. Click the links below to get started!
Visit Intel Markets Presale
Join The INTL Community
The post As Shiba Inu And Polkadot Face Mild Bearish Wave, Holders Reposition To This AI Coin For A Violent Upward Trend appeared first on TheCoinrise.com.
