Shiba Inu popularity skyrocketed in 2021, as investors flocked to the meme coin, lured in by the promise of quick profits. However, Shiba Inu has struggled to maintain its momentum in 2022 and 2023. A new competitor—Retik Finance (RETIK)—by the end of 2023 made things harder for SHIB. Retik Finance has been gaining attention for its impressive features and utility, grabbing Shiba Inu’s market share. As investors look ahead to 2024, Retik Finance appears better positioned for gains compared to the stagnating Shiba Inu.
Click Here To Take Part In Retik Finance Presale
Lack of Interest in Shiba Inu from Whales
One indication that investor sentiment is cooling on Shiba Inu is the lack of large purchases, or “whale” buys, in the meme coin. The number of SHIB tokens held by whales remained stagnant in 2023. One of the reasons cited for dwindling whale interest is that Shiba Inu lacks a long-term roadmap. Critics argue that Shiba Inu has little utility beyond speculative hype, failing to offer users any compelling products or services. For a coin that reached a market cap of $44 billion at its peak based on meme appeal alone, Shiba Inu will require more substance to see significant gains again in 2024.
Introducing Retik Finance
As investors lose faith in the outlook for Shiba Inu next year, a new cryptocurrency project is gaining attention—Retik Finance. Retik Finance aims to offer a comprehensive decentralized finance (DeFi) platform with real-world utility.
Some of Retik’s core products include:
- DeFi Debit Cards – Allow users to spend crypto balances anywhere major credit cards are accepted; offer rewards and cashback incentives.
- Payment Gateway – Facilitates crypto payments for online merchants.
- Non-Custodial Wallet – A secure digital wallet for storing crypto assets.
- Swap Aggregator – Finds the most competitive crypto exchange rates across DEXs.
- P2P Lending – Uses AI algorithms to match borrowers and lenders.
- Futures and Options Trading – simplified trading interface integrating advanced order types.
In addition to launching its multifaceted DeFi platform, Retik Finance is also focused on driving real-world adoption. For example, the project’s Visa-linked debit cards enable users to spend their crypto easily at millions of merchants globally, not just within the crypto economy.
Retik Finance Raises $23 Million in Presale
As a testament to the excitement surrounding Retik Finance leading into 2024, the project has already raised over $23 million in its multi-stage presale offering. The presale allows investors to acquire the native Retik token (RETIK) at discounted rates ahead of exchange listings next year. The speed at which the presale has been selling out reflects rising investor demand for Retik Finance’s impressive product suite compared to the uncertain outlook for Shiba Inu in 2024.
Shiba Inu Price Stuck Around 8-Month Lows
Shiba Inu has struggled to regain positive momentum after plummeting over 90% from its record high in 2021. Despite attempts to expand utility within the rebranded “Shiba Ecosystem”, actual adoption and usage remain low. At the time of writing, SHIB trades for just $0.00000685, not far from the 8-month low of $0.00000668 it dropped to in mid-January 2023. With prices still depressed near the lowest levels in almost a year, Shiba Inu shows little evidence of being ready to erupt higher over the next 12 months. Meanwhile, Retik Finance offers investors exciting growth prospects for 2024 through its accelerating presale and ambitious roadmap targeting multi-faceted DeFi solutions and real-world crypto adoption. As investors seek projects likely to prosper next year, Retik presents a more promising opportunity compared to the fading hype around Shiba Inu.
Conclusion
As Shiba Inu continues to stagnate without clear signs of reversing its long-term downtrend, investor money appears to be rotating into innovative new crypto projects like Retik Finance. With game-changing DeFi products and surging presale demand, Retik Finance looks well-positioned to leave Shiba Inu behind over the next year.
Click Here To Take Part In Retik Finance Presale
Visit the links below for more information about Retik Finance (RETIK):
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this article.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://thenewscrypto.com/whales-do-not-want-more-shiba-inu-shibs-new-rival-looks-better-for-2024-gains/
