Probability of RenQ taking over Shiba Inu

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By Degen Lipsa

Shiba Inu (SHIB) and RenQ Finance (RENQ) are Two DeFi tokens that have been gaining substantial interest in the cryptocurrency market . Analysts anticipate that both of these coins will perform well in the upcoming years, with a 25x increase possibility by 2023.

However, Despite receiving a lot of attention in the cryptocurrency market, RenQFinance (RENQ) offers more fundamental utility and use cases than Shiba Inu (SHIB) which in and out makes it superior.

Due to its catchy name and hype-driven marketing, Shiba Inu (SHIB), the meme inspired cryptocurrency, has attracted a lot of attention lately. However, many investors are concerned about the dearth of real use cases and utility. RenQFinance (RENQ), a decentralised finance (DeFi) token, gives a more usable perspective on the bitcoin world in contrast.

RenQ being the next big thing. Source: coinpedia

As per the data, The SHIB trade volumes have decreased recently as a result of investors shifting their attention to other promising cryptocurrencies like RenQ Finance (RENQ).

According to many experts, this pattern will persist as more investors turn their attention to promising DeFi tokens like RenQFinance. Although trends can change quickly and the cryptocurrency market is very volatile, it appears that RenQFinance has gained a lot of momentum and may be the next big thing in the DeFi industry.

Although SHIB gained support locally, it has had difficulty moving forward, and the declining buying interest has caused a significant drop in trading volume, signalling a possible loss of investor confidence. SHIB community who may have anticipated a surge alongside other meme tokens may find this decline unsettling.

Shiba Inu vs RenQ

The memecoin Shiba Inu (SHIB) was developed as a result of the success of the cryptocurrency Dogecoin (DOGE). It was made in August 2020 by an unidentified individual or group under the alias “Ryoshi.” SHIB has amassed a sizable following since its launch, and its market valuation is now over $6.12 billion.

On the other hand, RenQFinance (RENQ) is a relatively new DeFi token that has been receiving a lot of market interest. It intends to construct a cross-chain asset trading network and link isolated blockchains, giving the DeFi ecosystem the underpinning support it needs. It has emerged as a desirable alternative for traders thanks to its all-in-one solution, limitless liquidity, cross-chain compatibility, and decentralised governance.

Additionally, the presale phases of it have been successful, with early investors receiving sizeable returns on their investments. The next stage’s price for the token, which is now in its seventh presale stage, is set at $0.05. With a target of $15.6 million, the current stage has already raised more than $14 million.

Click here to join RenQ presale

Concluding, Shiba Inu (SHIB) isn’t a better investment, and RenQ Finance (RENQ) is a stronger contender for a 20x return in 2023. SHIB’s market has been extremely volatile while RENQ has showed steady growth with consistency since it’s launch. Compared to SHIB, RenQFinance (RENQ) has a more defined goal and plan, more use cases and applications, and greater room for expansion. The widely anticipated 2024–25 bull market will feature RENQ as one of the top platforms in the DeFi sector, rewarding early adopters with up to 100x returns.

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