Recent progress in Toncoin (TON) and Shiba Inu (SHIB) are making headlines as they lead projects, while an emerging presale token Yeti Ouro (YETIO) is gathering traction in the blockchain industry.
Toncoin: Advancing Blockchain Technology
Toncoin (TON) has announced important updates for its blockchain ecosystem. The community recently announced the launching of $TON Teleport $BTC, enabling trustless BTC transfers to the TON Blockchain with the community’s synthetic token, tgBTC, aimed at transforming Bitcoin from an asset meant to be HODLed into a tool for DeFi activities like, trading, yield farming and liquidity provision.
These progress are a part of the project’s long-term commitment to improve scalability and usability on its network. Toncoin is currently trading at $5.51, with a minor daily drop of -0.19%. Toncoin’s small dip doesn’t mean its fundamentals are weak, it has a market cap of $14.02 billion and a circulating supply of 2.55 billion TON.
Today’s trading also indicates a 24-hour volume of $279.07 million, 46.51% down from earlier. While technical indicators suggest resilience. The price remains above critical moving averages for 50-day, 100-day, and 200-day SMAs at $5.402, $5.136, and $5.117 respectively in a 4-hour chart on OKX. It suggests the token could consolidate ahead of its next move. This is now supported by the Awesome Oscillator which now shows red bars, indicating possible consolidations.
Shiba Inu: Burning 624M SHIB Tokens In A Week
Shiba Inu (SHIB) hunters still pursue the SHIB burn initiative. In the past week, 624 million SHIB has been removed from circulation, a testament to the community’s commitment to increasing scarcity and increasing long-term value.
Right now, SHIB is trading at $0.00002531 (a 2.53% increase within the previous 24 hours) and possesses a market cap of $14.91 billion. The $1.25 billion 24-hour trading volume proves that there is a healthy amount of demand for the token.
Looking at the Coinbase 4-hour chart, it seems that SHIB might be creating a bearish pennant pattern on a technical basis. An often-seen pattern, especially potential downside momentum, with the target price trading close to $0.00001600. However, the community sustaining high levels of engagement and burning activity may shift the dynamics of the market. However, the Average Directional Index holds a value below 20, showing a low trend.
Yeti Ouro: Dominating Presale Charts
A new Ethereum-based memecoin, Yeti Ouro (YETIO), is making strides along established tokens like Toncoin and Shiba Inu and is a quick winner based on its presale.
In only a few weeks the sale of Yeti Ouro’s tokens has exceeded 40 million, raising over $500,000 in presale funds. The project’s unique proposition, memecoin hype, or real-world utility, is why investors want to be a part of the project.
The native token for the upcoming Yeti Go, a play-to-earn (P2E) game using the Unreal Engine, is Yeti Ouro. The player-versus-player game is immersive, allowing players to race through obstacle courses using weapons, and strategic moves to gain the lead. The development team has released exclusive behind the scene footage.
At the time of writing, Yeti Ouro is currently letting its early adopters partake in a 20% discount on purchases until 25th November as part of its presale. This is heavily fueling crypto investor interest. With a dual focus on blockchain technology and a gaming approach, Yeti Ouro could be one of the main competitors in the crypto space.
Activity abounds in the crypto market with Toncoin, Shiba Inu, and Yeti Ouro. Toncoin is designed to move forward with blockchain by emphasizing its token burn, whereas Shiba Inu continues to strengthen their community-driven initiatives. On the flip side, Yeti Ouro is building an all-in-one network with a revolutionary blockchain backed by a robust community.
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