Dogecoin was made in 2013 as a joke about the cryptocurrency industry. The blockchain mints infinite tokens, and the only use case for DOGE was to transact on the network. The shiba inu dog that was used as the face of Dogecoin was the only selling factor, and people took up the meme, which eventually rocketed DOGE to an incredible multi-billion dollar market cap.
Shiba Inu is also a meme currency. It is a decentralized ERC-20 crypto launched on the Ethereum network. Since its inception in August 2020, the coin’s popularity has significantly risen. The coin has earned the moniker “Dogecoin killer” as a result of its similarities to Dogecoin.
Both Dogecoin and Shiba Inu are triggering bullish indicators from Avorak. See how they are managing to make these incredibly accurate predictions.
Will Dogecoin go up?
This is a pressing question for any DOGE investor. Over the past decade, DOGE has made many new millionaires. Many of those, including the famous investor who bought $200 of DOGE and reached a new worth of over $1 million, have now had their new worth wiped away. DOGE retraced over 90% in price. It is no wonder that these investors are asking will Dogecoin go up.
With integrations happening and DOGE now able to be used for payments on various platforms, there is a bullish outlook on DOGE, which Avorak is able to pick up from indicators.
Will Shiba Inu coin reach $1?
One of the main drivers for price increases is Shiba Inu’s community. On social media, SHIB has been promoted by a big and active audience. The ‘Shib Army’ has also taken part in other charity projects, which has contributed to the coin’s ascent to prominence. Another factor that can affect the price of Shiba Inu is the growth of the NFT market. Shiba Inu has launched its own NFT platform, which can entice more customers and increase the currency’s demand.
Traders typically seek the meme price of $1 in order to increase their earnings and level of financial security. A better question, instead of asking, “Will Shiba Inu coin reach $1?” people should be asking, “How can I estimate the price it will reach to be able to trade this asset effectively?”
This is where Avorak comes in.
Avorak is a project that aims to offer a set of AI tools that will help both businesses and people. In addition to a full set of automated trading tools, there will also be a picture generator and an AI writer.
For the trading tools, data from thousands of hypothetical paper trades that were executed after receiving strong alerts from numerous indicators will be analyzed by the trading tools. The bot will then “learn” which of these indicators consistently outperforms the market for each specific asset and use that information while trading. It will be able to open long and short positions as well as automatically close out trades. Using a flexible, ongoing method like this one enables traders to stay one step ahead and enact sensible risk management.
This helps traders open up their time to increase productivity and profitability, leading a new way forward for multitasking and stopping the necessity to constantly ask will Dogecoin go up or will Shiba Inu coin reach $1.
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