This cycle may just be beginning, but it is already shaping up to be quite different from any we’ve seen before. The main difference seems to be the poor performance of memecoins across the sector.
While other crypto tokens are pumping in the market, meme coins have been on the decline, indicating a pivot in interest from investors from memes to other narratives, such as payments.
This logic would explain the recent decline in the Dogecoin price. The largest meme coin by market cap has fallen on hard times in the ongoing cycle and is currently down by 17% in the past week. Meanwhile, other altcoins, such as the upcoming PayFi star, Remittix, have been gaining momentum and are expected to perform exceedingly well in the bull run.
Dogecoin Price Slumps As Investors Pivot to Alternative Tokens
Being the largest meme coin doesn’t seem to count for much these days, or at least that’s what the current market conditions seem to imply. Despite there being a widespread price appreciation in the crypto market, the Dogecoin price remains in freefall, down by nearly 20% in the past week.
Analysts have not been able to pinpoint a precise reason for the poor performance of Dogecoin and the general meme coin sector in the ongoing sector. Still, the overarching sentiment seems to be that investors are experiencing fatigue when it comes to memes. It appears their lack of utility far outweighs their potential for price surges, or at least that’s what investors feel in this cycle.
With the meme coin sector underperforming, investors might want to consider pivoting to more promising tokens, such as payments and remittance tokens.
Remittix Could Save Investor Portfolios in Ongoing Cycle: Analysts
Due to the poor performance of meme coins in the ongoing cycle, investors now face a huge dilemma heading into the bull run. They can either stick to their convictions and ride out the price decline, or pivot to more promising options.
Analysts believe the latter is the best course of action and that Remittix, the upcoming PayFi token, could be an ideal option for investors in this cycle.
Remittix has caught the eye over the last few months, thanks to its unique proposition as a problem solver in the global payments scene. The token and its native project are poised to redefine the payments experience by providing a unique service unavailable elsewhere, thanks to impressive features, such as:
- Direct crypto-to-bank transfers in over 30 countries worldwide
- 50% token bonus for early adopters and supporters
- 20% referral rewards for onboarding new users
Discover the future of PayFi with Remittix by checking out their project here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
$250,000 Giveaway: https://gleam.io/competitions/nz84L-250000-remittix-giveaway
