Interest in top meme coins like Shiba Inu (SHIB) and Pepe (PEPE) has continued to depreciate in recent times with both registering roughly 18% and 31% loss respectively in the past month. While the reason can be attributed to a lot of factors, one that stood out is the shift in focus to more trending meme coins, especially in the wake of Trump’s crypto administration.
Meanwhile, on the sideline is Elluminex (ELX) which is set to redefine the DeFi experience on TON Network. As a DeFi Hub on the TON network, Elluminex will provide the necessary infrastructure, including cross-chain liquidity for new DeFi projects to thrive. This not only creates an enabling environment for developers but also ushers in a new wave of trending digital assets like meme coins and ETFs. Delve in and find out how it aims to achieve this.
Elluminex’s Innovative DeFi Hub Attracts Growing Interest
Elluminex (ELX) primarily functions as a DeFi hub, which by default, allows it to offer extensive DeFi solutions cutting across decentralized crypto exchange, staking and farming mechanisms, cross-chain liquidity and even doubling as a cross-bridge solution. These alone set it apart from traditional counterparts like Uniswap, PancakeSwap, and Jupiter to mention a few.
Specifically, Elluminex combines its native $ELX token, AI-driven insights, and proprietary premarket features in an attempt to revolutionize asset management and trading as a whole. Not only does this provide a level playing field for new and experienced users, but it also gives them equal shots at becoming profitable. Elluminex particularly houses unique features like an AI-powered portfolio tracker that streamlines the overall DeFi experience for all users.
Meanwhile, new projects can also leverage the platform’s cross-chain and bridging solutions as well as the vast liquidity required to thrive on the TON Network. This can ultimately foster an enabling environment for trending digital assets like meme coins, allowing users to explore different DeFi opportunities. Currently priced at $0.06, the native $ELX token holds great potential to debut as the next breakout token.
Shiba Inu Price Slides Below Crucial Support Zone
Following a notable fluctuation above the $0.000020 price mark which doubles as its most crucial support level, Shiba Inu (SHIB) finally retraces back to its two-month low of around $0.000017. According to a recent post by popular crypto analyst Ali, Shiba Inu’s failure to hold above the crucial level could send it to lower regions.
Currently trading within a weekly price range of $0.000021 and $0.000018, SHIB price now reflects about 17% decline, accumulating to roughly 18% decline in the past month. While the recent price retracement is largely considered a minor setback, popular crypto analyst SHIB Spain suggests in an X post that SHIB price could soon break out despite the obvious risk of dipping below the $0.000015 mark.
Meanwhile, exploring other metrics on TradingView, SHIB token’s short and long-term EMAs and SMAs point to a strong sell, which further suggests that the current trend may persist for some time. However, if the SHIB price is able to hold strongly above the $0.000015 price mark then a potential price rebound could take place soon.
Pepe Price Trajectory Reflects An Imminent Breakout To The Upside
Similar to Shiba Inu, Pepe’s (PEPE) price trajectory has also hit a downward slope in the past few weeks. Currently trading within a weekly price range of $0.000016 and $0.000012, the PEPE price reflects a nearly 27% decline in the past week and slightly above 32% in the past month.
However, unlike Shiba Inu with less than double gain in the past year, the PEPE price still reflects a far more bullish trajectory having retained over 1000% gain in the past year. Meanwhile, looking closely at its technical analysis on TradingView, the sentiment is a little different as both the short and long-term moving averages point to a strong sell.
While technical analysis suggests that the current trend may last a little longer, top crypto analyst Davie Satoshi in a recent X post points out that the correction was necessary for an imminent rebound. According to Davie, there is not too much to worry about with the PEPE coin. He added that the retracement to the new support region is just recoil for the next movement up, especially if the support line above $0.000012 holds strong.
Can Elluminex Outperform Shiba Inu And Pepe In Memecoin Dominance?
Although Elluminex is not a meme coin by structure, its cross-chain functionality on TON Network can usher in a new wave of meme coins that can put up a strong challenge against the dominance of already established meme coins like Shiba Inu and Pepe.
For more information about Elluminex (ELX) visit the links below:
Website: https://elluminex.com/
Twitter/X: https://x.com/elluminex
Telegram: https://t.me/Elluminex
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