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"Panshibi's Panda Power: Meme Coin Surge Threatens Toncoin, Cardano"

Coin WorldTuesday, Feb 4, 2025 6:27 pm ET

1min read

The cryptocurrency market is abuzz with renewed interest in ultra-low-cost meme coins like Panshibi (SHIBI). Currently priced at $0.004, SHIBI is in Stage 3 of its token presale and has investors eyeing a potential price surge of over 100x. Within days of its ICO launch, Panshibi has raised hundreds of thousands of dollars, drawing attention and liquidity away from established players like Toncoin (TON) and Cardano (ADA).

Meanwhile, Toncoin, the native token of The Open Network (TON), has faced headwinds despite its association with messaging giant Telegram. Once hailed as a potential Ethereum competitor, Toncoin's price has dropped to around $3.82, down 34% from its January 2025 peak of $5.75. Telegram's adoption of TON-based usernames and wallets has not produced lasting price increases for Toncoin. The project faces difficulties converting technological progress into widespread market acceptance, with trading volume recently dipping below $300 million daily.

Cardano, the Proof-of-Stake blockchain known for its academic rigor, continues to expand its ecosystem despite facing investor enthusiasm. Cardano's latest news highlights the launch of the Plomin Hard Fork, a major upgrade that brings decentralized governance to the network. ADA holders can now delegate their voting power to Delegated Representatives (DReps), allowing them to participate directly in important decisions such as protocol changes, treasury withdrawals, and future hard forks. This shift is expected to drive more adoption and interest in Cardano, with analysts predicting a potential rally to $2 if it breaks the $1.10 resistance.

Panshibi, an ERC20 meme coin built with a Panda theme, has captured investors' imagination with its combination of accessibility and ambitious tokenomics. Priced at a mere $0.004 per token, the SHIBI token presale offers a low barrier to entry, appealing to retail traders seeking the next 100x opportunity. With Bitcoin trading above $95,000, traders are pivoting to speculative assets, betting on meme coins to outperform blue-chip altcoins. The project's deflationary model, which involves the burning of all unsold presale coins, mirrors strategies used by Shiba

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