Shiba Inu was once a popular cryptocurrency but lately it has dropped for six months in a row, but the major worry is there was no light at the end of the tunnel. Shiba is now dealing with utility issues and is working on a few projects but not producing much.
However, some new and emerging initiatives, like Gnox, are garnering the interest of cryptocurrency investors.
Is the Shiba Inu (SHIB) losing popularity?
Shiba Inu hype peaked in 2021, when the coin became one of the largest gainers, soaring by 50,000,000%.
However, the coin has been falling in value since late October, with its price falling for nearly seven months. This is because the euphoria surrounding meme currencies is fading.
Utility is the most difficult part of the Shiba Inu project. It arose from excitement rather than products. As a result, as the hype began to fade, the price began to fall and has been falling ever since.
Their team is already developing products for its ecosystem, but progress has been slow. The coin has been losing holders while the market cap and price have been declining.
Is Gnox (GNOX) the newest craze?
Gnox, which is now in pre-sale and will be formally launched in July, looks to be a savvy new participant in the cryptocurrency industry.
Gnox is the first DeFi earning protocol to provide all types of investors with “Yield Farming As A Service.” They work hard to make it as easy and smooth as possible for DeFi users to earn passive income to support their stable growth.
Because of its unique DeFi treasury, which allows investors to get a bigger reward from other protocols, Gnox has one of the reflection projects with the fastest-growing communities.
Gnox thinks that long-term holders and users should be rewarded with a stream of passive income equal to the treasury’s income over time.
The Gnox advantage becomes obvious when they use their method across numerous pools, delivering up to 50% APR while existing traditional banks average less than 2%.
The majority of Gnox’s stable coins, DeFi LP tokens, and NFTs will be kept in the treasury, which is a multi-signature protected vault.
Gnox (GNOX): Could it be the next Shiba Inu (SHIB)?
Those that bought Shiba Inu in late October 2021 are now counting their losses. The value of the coin has been rapidly declining since early November.
In addition, a lot of crypto investors are worried that Shiba Inu’s price keeps going down and that its popularity is quickly fading.
This Shiba Inu craze is quickly waning, and Gnox looks to take over. This is evident from the fact that Gnox has received more attention in recent weeks, whereas Shiba Inu has deteriorated.
Gnox is a newcomer to the crypto market with an interesting and transparent story to tell about its goals and offerings.
Gnox is a decentralized platform whose main goal is to bridge the gap between crypto and fiat by showing everyday users how easy and useful their protocol is.
Its objective is to give its holders the same level of service without making them go through any extra steps. Investors can purchase, hold, and profit while delegating Gnox the grunt work.
Learn more about Gnox:
Join Presale: https://presale.gnox.io/register
Website: https://gnox.io
Telegram: https://t.me/gnoxfinancial
Discord: https://discord.com/invite/mnWbweQRJB
Twitter: https://twitter.com/gnox_io
Instagram: https://www.instagram.com/gnox.io/
