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SHIB and Render are trending down. Investors are now eyeing Raboo for its tax-free status and growth potential.
SHIB and Render coins are not an exception to the general downward trend currently seen in the cryptocurrency market. Consequently, the holders of these top altcoins have now turned to Raboo (RABT), a rapidly growing new presale token in hopes of experiencing gains from investing in it.
Investors are optimistic about Raboo (RABT), considering its tax-free status, but could Raboo turn out to be the profitable investment they’ve been searching for? Let’s find out.
Shiba Inu’s burning campaign ignored by market as prices plunges
Significant amounts of SHIB tokens are still being sent to a null address as part of the Shiba Inu team’s continuous burning campaign. According to data, 178 transactions totaling close to 380 million SHIB tokens were removed last month. On July 11, more than 70 million SHIB were destroyed, setting a record. On July 22, about 60 million SHIB were burned.
Although the monthly burn rate was impressive, it did not raise the price of SHIB; instead, it caused it to falter, falling 9.6% in the last month to $0.00001487, forcing investors to look for other investments. Shiba Inu’s dismal performance is in line with a wider market downturn, in which Ethereum sank to about $3,100 and Bitcoin momentarily went below $64,000.
Render under pressure: Price drops 36% amidst bearish market
Render (Render) is one of the top altcoins, currently experiencing a challenging market situation fueled by the overall bearish market. Over the past week, Render dropped significantly by 28%. Even the technical outlook suggests a bearish trend, as Render struggles to maintain its support levels due to strong selling pressure.
For instance, Render’s Relative Strength Index (RSI) is at 37, indicating that the asset is in the selling territory. Currently, Render is trading around the $4.94 mark, representing a 6.7% drop over the last day.
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Raboo gains traction as investors seek tax-free crypto
Despite many token presales currently in progress this year, Raboo still holds its ground as one of the investors’ favorites. This makes it unsurprising to learn that it has become a preferred alternative for many SHIB and Render holders.
Raboo has a unique tokenomics structure designed to attract investors, and a key feature of its tokenomics is the 0% Buy Tax. This means that investors can purchase the RABT token without incurring any additional costs upfront.
Similarly, Raboo’s tokenomics does not include a sell tax for the RABT token. The lack of a sell tax allows investors to get maximum profits, further enhancing the appeal of Raboo as one of the best cryptos to buy this year
Along with the absence of both buy and sell taxes, Raboo draws investors to its platform with its ongoing remarkable presale. While in Stage 4, selling at $0.0048 per token, RABT has delivered 60% gains to early investors and is poised to do more before the presale concludes—potentially a 233% yield for early investors.
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Conclusion
While Shiba Inu and Render have struggled to maintain their prices in the face of an overall bearish market, Raboo has gained significant traction among investors seeking a potentially profitable investment opportunity.
With its 0% buy and sell taxes, Raboo’s tokenomics have made it an attractive alternative. Raboo’s presale coins, which are poised to keep appreciating, have also attracted investors interested in witnessing substantial gains this year, ultimately reaffirming the sentiment that it is one of the best cryptos to buy.
For more information, visit Raboo’s presale website or follow the project on Telegram and X for the latest updates.
Read more: Pepe or Raboo: A quest for the memecoin which could displace Polkadot in 2024
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