ETFSwap ($ETFS) is one of the crypto assets to watch out for this year. The budding token is flashing an impressive bullish signal, with experts tipping it for a better long-term performance than Bonk (BONK) and Shiba Inu (SHIB).
Both meme coins experienced a price uptick in the last quarter but couldn’t keep up the momentum. In this report, we review their performance while looking into ETFSwap’s ($ETFS) prospect beyond its presale phase.
Bonk’s (BONK) Q1 2024 Performance Outlook
Bonk’s (BONK) community-first approach increased its adoption and the overall interest in it. The meme coin thrived on this interest, rising over 2,000% in the first few days after launching.
Bonk (BONK) hit an all-time high (ATH) of $0.00003419 on December 15, as speculation about Bitcoin ETF approval caused a general market uptrend. It climbed alongside other crypto coins during this period, ending 2023 as one of the top-performing meme coins.
However, Bonk (BONK) declined from its high in 2024, falling below its support at $0.00001. The meme coin spent most of January retesting the support and was eventually successful on January 22nd. Bonk’s (BONK) February run was more of a bullish reversal, and it eventually did more than 4x in early March, setting a $0.00004704 all-time high on March 4th.
Bonk (BONK) has declined by about 30% since then and is currently exchanging hands at $0.00002224. However, despite the bearish momentum, it remains among the meme coins with a high propensity to surge soon. Analysts expect another bullish reversal from the Bonk (BONK) in Q2.
Shiba Inu (SHIB) in Q1: Token Burn, Momentary Surge, and Decline
Shiba Inu (SHIB) had a struggling start to the year, and the current outlook suggests it’s still struggling. According to CoinMarketcap, Shiba Inu (SHIB) is down by 14% over the last month, despite a slight uptick in February and the second week of March.
Pundits credit Shiba Inu’s (SHIB) momentary spikes during these times to the token burn mechanisms adopted by the developers. Shiba Inu’s (SHIB) burn rate in the last month is about 15.5 billion tokens, which is 2300% more than the figures in February.
The token burn in March caused a huge price spike, giving Shiba Inu (SHIB) a 192% month-to-date ratio at some point and pushed it to a $19 billion market cap, which ranked it 10th on the crypto board at the time. It eventually dropped to 12th on the list, with a current market cap of $15.8+ billion.
The altcoin is currently battling bearish pressure, which has caused it to lose its accumulated profit in Q1. However, experts believe additional token burn and the continuous development of Shibarium, a layer-2 scaling solution in the Shiba Inu ecosystem, could spur price improvement for Shiba Inu (SHIB) in the coming months.
ETFSwap ($ETFS) Ushers In A New Dawn For ETF Traders
ETFSwap ($ETFS) is an innovative crypto project aimed at driving a true financial revolution by making ETF trading seamless. The trailblazing project will introduce ETF traders to the real essence of decentralization without compromising the pros they enjoy from traditional finance.
ETFSwap ($ETFS) will provide traders with enough liquidity and flexibility for effective trading by ensuring they can trade assets without expiration dates. It combines the benefits of decentralization with the structure and stability associated with ETF investments, putting ETF traders at great advantage.
The platform provides 24/7 risk management, uncensored access to high liquidity access classes, transparency, and optimum security, leveraging blockchain technology to achieve this.
Financial experts believe the tokenization industry will become a trillion-dollar industry, and ETFSwap ($ETFS) is at the forefront of making this a reality. The innovative platform is backed by its native token, $ETFS, which is fast selling out on presale.
$ETFS is currently in the first stage of its presale at a price of $0.00854 per coin. Over 5.4 million tokens have already been sold after the project raised $750,000 in its private round. This momentum shows that small and large investors alike are incredibly bullish on ETFSwap ($ETF).
For more information about the ETFS Presale:
