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"Shiba Inu Profits Plummet: Meme Coins Face Real-World Use Criticism"

Coin WorldThursday, Jan 30, 2025 10:13 am ET

1min read

Shiba Inu Wallet Profits Hit 3-Month Low: What to Watch Out For

Shiba Inu, the popular meme coin, has seen a significant decline in its wallet profits over the past three months. The cryptocurrency, which was once a darling of the market, has now joined the broader meme coin decline trend, along with Dogecoin. While both coins have seen substantial gains in the past, they now face criticism for lacking real-world use cases and relying too heavily on social media hype and celebrity endorsements.

Dogecoin, for instance, is trading around $0.3237, showing a daily loss of 2.06% but a weekly decline of 10.74% and a monthly increase of 3.11%. Similarly, Shiba Inu is trading near $0.00001808, marking a daily loss of 3.94%, a weekly decline of 10.85%, and a monthly decrease of 14.99%. Analysts suggest that the lack of practical applications behind these meme coins has led to a shift in investor preferences, with many now seeking coins that offer real-world solutions.

One such coin that has gained significant attention is Remittix, a token focused on cross-border remittances. While Dogecoin and Shiba Inu have stumbled, Remittix has continued to climb, with some data showing it has gained over +150% in presale value, nearing $10 million in funding. The token aims to cut wire fees and speed up global transactions, providing a real-world purpose that has turned it into a bright spot during the meme coin decline trend.

Supporters of Remittix see it as a top pick because it doesn't rely on random tweets or viral memes. By letting families and freelancers send money faster and cheaper, Remittix addresses a huge market and has the potential to outperform older tokens that lack daily financial uses. Analysts state that when coins solve actual problems, they often see more stable and lasting growth. This is why big holders are now looking at Remittix for faster gains and fewer risks, as the meme coin decline trend continues.

In conclusion, the decline in Shiba Inu wallet profits is part of a broader trend affecting meme

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