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Shiba Inu aims for top 5 in crypto by 2029, with rising interest in Toncoin and Yeti Ouro signaling market shifts.
Shiba Inu (SHIB) has been trending in the crypto space following statements made by the anonymous lead developer Shytoshi Kusama about the future of the coin. Kusama confirmed that he wants to take SHIB from the 15th position among cryptocurrencies to the top 5 within the next five years.
Meanwhile, other crypto projects, including Toncoin (TON) and Yeti Ouro, are also seeing increasing interest from investors, suggesting a shifting dynamic in the meme coin and DeFi sectors.
Shiba Inu’s burning efforts and market impact
The SHIB token has been under increased token burning by the Shiba Inu community. This in turn has led to a decline in the supply of the token. In the last 24 hours alone, the number of SHIB tokens sent to burning has crossed 1.28 billion with a 2,055% rise in the burn rate.
The burning activity is in line with a 5% rise in the SHIB price showing that these efforts are bearing fruits in the market. Shiba Inu coin price currently stands at $0.00002626.
At the same time, the founder of SHIB, Shytoshi Kusama, has shared his plans to bring the cryptocurrency into the top 5 by market capitalization. As of today, SHIB is the 13th most popular cryptocurrency, with an overall market capitalization of $15.27 billion.
To realize such a goal, the token would have to rise in value by 517% in the market, maybe even overtaking BNB which is currently the fifth-largest coin with a market capitalization of $94.23 billion.
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Toncoin’s bullish outlook as price targets $10
Similarly, the trading volume of Toncoin has also been rising in the market. At the time of writing, the Toncoin price is trading at $6.32 with 72% of TON holders realizing profit. The price action has been forming a bullish pattern, known as an ascending triangle, indicating that the coin could be heading higher.
If the price is to break the current resistance level it has at the moment, it could go up to $9.00 with other targets suggesting it could rise to $10.
The impressive performance of Toncoin is a cause of interest among investors who are on the lookout for new and potentially profitable opportunities in the altcoin market. Investors are looking for profit-making opportunities as the coin keeps on gaining steam owing to the fact that it is an integral part of the Ton blockchain network.
Yeti Ouro gains momentum with unique DeFi and gaming features
In the course of these developments, a newcomer in the crypto sector in the form of Yeti Ouro (YETIO) has emerged. Launched on the Ethereum network, Yeti Ouro is a blend of meme coin, DeFi, and gaming with the upcoming P2E game, Yeti Go. The game, expected to be released soon, will see the players earning YETIO tokens as they engage in competitive racing to overcome other players.
Yeti Ouro is still in its presale stage and has managed to collect over $730,000. To ensure the scarcity of its token and to provide long-term value for investors, Yeti Ouro has a total supply of 1 billion tokens.
This project has attracted the attention of large investors in the cryptocurrency market, and its Black Friday campaign, which includes a 20% discount on token purchases, is anticipated to increase its popularity further. Highlighting ongoing developments, the team has recently shared a behind-the-scenes video showing the efforts underway ahead of the launch of the ecosystem.
To learn more about Yeti Ouro community, visit the website, X, Telegram, and Discord.
Read more: Bitcoin ETFs surge, XRP shows strength as Yeti Ouro emerges as the next viral altcoin
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