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Cryptocurrency News Articles
Could Rexas Finance (RXS) Be the Next SHIB or DOGE?
Sep 20, 2024 at 07:51 pm
Some tokens have produced a frenzy amongst the public like Dogecoin (DOGE) and Shiba Inu (SHIB). Both animals earned massive social media presence during the euphoria of the 2021 bull market, and their price action made anyone who invested in them earn good returns.
Some tokens, like Dogecoin (DOGE) and Shiba Inu (SHIB), have managed to capture the public’s attention. Both animals had a significant social media presence during the 2021 bull market, and their price action resulted in substantial gains for early investors.
However, is there a new player preparing to enter the arena and perform similarly? Those who profited during the Dogecoin and Shiba Inu bull runs are now keeping a close eye on one potential new token, Rexas Finance (RXS), which is currently trading below $1.
Dogecoin Phenomenon
Dogecoin’s 2021 bull run was largely influenced by celebrities, particularly prominent entrepreneur Elon Musk of Tesla and SpaceX. Tweets from Elon about Dogecoin were cryptic and drove the token price to new highs.
At one point, DOGE price surged by over 22,000%, rising from its general 2021 opening price to its highest-ever price in history of $0.73, which briefly put the meme coin ahead of leading cryptocurrencies Bitcoin and Ethereum at the time. The Dogecoin phenomenon, in addition to the power of Twitter, also benefited from the hype generated by social media.
However, that hype and excitement has since died down, and while DOGE still ranks among the top coins by market capitalization, its price has seen a significant drop from its 2021 highs.
Shiba Inu – the ‘Dogecoin Slayer’
SHIB price had even greater effects than the Dogecoin crashes, with early investors seeing returns in the tens of thousands of percentage points.
The most notable price surge for SHIB occurred between May and October 2021. SHIB price rose by 1,953% from $0.00000172 to $0.00003532 on May 11, 2021.
However, the token initially raised traders’ hopes but then, to their disappointment, it fell back to $0.00000793 within three weeks. After several months of relatively flat price movements, SHIB price made another steep surge in October, rising from $0.00000766 to $0.00002913 between October 2 and October 13.
The price continued to rise, reaching its all-time high of $0.000089 on October 28, but it was once again followed by a market correction.
Could Rexas Finance (RXS) Be the Next SHIB or DOGE?
Crypto insiders who made money on Dogecoin and Shiba Inu are now shifting their attention to another crypto project, Rexas Finance (RXS).
Currently in presale, RXS tokens are priced cheaply at $0.04 after its first stage sold out in less than 3 days. As the presale progresses, the token price is set to increase to $0.05 in the following weeks of its presale.
Many believe that RXS has the potential to achieve the successes that dogecoin and shiba inu became known for in 2021. But why are insider wallets showing so much interest in RXS?
Firstly, the token is priced at less than $1, which gives it a lot of upside potential for people to get in. Moreover, the company’s timing for such an expansion is optimal, especially as RWA tokenization has seen increasing growth over the past few years.
If the token manages to stay afloat and achieve its goals within the DeFi ecosystem, then it might just turn out to be the next major meme coin or utility token to sweep the market in a few months.
Conclusion
Dogecoin and Shiba Inu were both remarkable assets in 2021, as they demonstrated that meme coins can also be assets that generate cash over time, and even though the momentum around these coins has died down, the communities supporting them both remain strong.
With its current presale price at $0.04 and the buzz that has been building up yet surrounding it, RXS has the makings of becoming the next big thing in the crypto world thanks to its utility in the DeFi universe with investors even comparing it to the mass adoption of DOGE and SHIB.
For those who are looking to ride on the next generation of meme coins or high-growth assets below the $1 level, Rexas Finance might just be the one to keep an eye on.
For more information about Rexas Finance (RXS) visit the links below:
Website: https://rexas.com
Whitepaper: https://rexas.com/rexas-whitepaper.pdf
Twitter/X: https://x.com/rexasfinance
Telegram: https://t.me/rexasfinance
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