The cryptocurrency market is experiencing its biggest decline in more than 10 months, and memecoins haven’t been spared. Top memecoins Shiba Inu (SHIB) and Bonk (BONK) have suffered double digits losses, with no bottom in sight yet.
Amidst this decline, many investors have turned to hedging with altcoins offering utility. Pullix (PLX) has been one of the major altcoins attracting investors with its unique DeFi features. Read on to find out why savvy investors have turned to PLX in these bearish times.
Shiba Inu (SHIB) Plunge Continues Despite Major Milestone
Shiba Inu (SHIB) transitioned into a meme coin with utility after it launched the layer 2 network, Shibarium, in August 2023. With more than 300 million transactions, Shiba Inu’s layer-2 blockchain solution, Shibarium, created a stir once more.
This new milestone comes after a productive month in which the network processed between 1.2 and 7.8 million daily transactions. In addition, the Shiba Inu wallet addresses on Shibarium
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