The market hype went down a bit, and the meme frenzy has been on a spiraling downturn, too. PEPE price has slipped 8% below $0.00002 after a $175M supply squeeze, and SHIB has been struggling to maintain its footing off profit-taking sell-offs.
However, the meme’s dimming embers have shone a light on utility tokens and their real-world use cases – especially the DeFi solution that Lunex Network offers. This DeFi ingenuity has sparked enthusiasm in its ongoing presale, which is breaking new highs.
Utility tokens take center stage: Lunex Network’s DeFi innovation soars in demand
The meme hype has fizzled again, and the focus is shifting to a utility token with real-world applications, one that Lunex Network truly excels at. Unlike meme coins, which rely heavily on speculative interest, this hybrid DeFi platform’s revolutionary asset trading solution is quickly gaining traction among savvy investors.
It’s a dream come true for many traders. A cross-chain, user-friendly and scalable AMM DEX is nothing short of amazing. This interoperability addresses one of DeFi’s biggest challenges—fragmentation—while its non-custodial wallets ensure users maintain complete control.
Utility tokens are winning, and Lunex Network’s ongoing presale proves this. The allure of getting everything for doing nothing with Lunex’s passive income has attracted thousands of investors. Demand is surging, and price gains are slowing down. Its ongoing presale has surged 158% and the price is still at a rock bottom of $0.0031 – a rare opportunity that smart investors are snapping up in droves.
PEPE price slips below $0.00002 after supply squeeze
After a brief rally to a $0.000025 ATH, the PEPE price tumbled 24% and lost grip on the psychological $0.00002 resistance level. PEPE price drop follows a dramatic $175 million reduction in circulating supply that has now left the market vulnerable to a bearish reversal.
PEPE’s price blazed a trail after its Coinbase and Robinhood listing sparked a rally. Unfortunately, profit taking and waning demand have been weighing in heavily and now, on-chain data reveals short-term selling pressure. Adding to the bearish outlook, PEPE price action has dipped below the lower Bollinger Band, indicating heightened volatility and potential for further downside.
Profit-taking frenzy trigger huge Shiba Inu sell-off
Shiba Inu has been trailing from the fading meme hype, too. Just a few weeks ago, the SHIB price rose to an eight-month high of $0.00003 – a peak that left 62% of SHIB holders sitting on substantial profit, according to IntoTheBlock data. However, this profitable position has sparked a wave of sell-offs. Holders rushing to lock in gains have triggered a 17% decline to $0.000025.
The sell-off is underscored by technical indicators signaling bearish sentiment. However, Shiba Inu’s developer, Shytoshi Kusama, remains optimistic, emphasizing token-burning mechanisms and expanded use cases to secure SHIB’s future as more than just a meme coin.
Conclusion
The shifting tides in the cryptocurrency market make one thing clear: utility tokens are emerging as the future of the industry. The recent performance of SHIB and PEPE prices highlights the volatility and fading allure of these speculative assets. In contrast, Lunex Network’s utility token is breaking limits with its groundbreaking DeFi solution, hybrid platform and cross-chain features. Early investors are celebrating 158% to their foresight, and an impressive $3.2M has been raised.
You can find more information about Lunex Network (LNEX) here:
Website – Socials
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