Shiba Inu has been finding support in a quest to stabilize after a long period characterized by constant pressure, with the latest return to $0.0000085 for this particular token indicative of renewed discussion as to which cryptos to buy now as conditions continue to improve. Technicians analyzing crypto news for today are able to identify that SHIB has a falling wedge, an inverted head and shoulders formation, as well as a bullish divergence. On a different note, Mutuum Finance (MUTM) tops the list of cheap cryptos that are now being described as some of the best cryptocurrencies to buy.
SHIB Market Situation
Shiba Inu has been seen in a noticeable bear trend for a period of a few months now due to a lack of investments by larger investors as well as an emerging market rebalancing. The current stabilization around $0.0000082 has also seen a number of positive technical formations.
Also, the presence of bullish divergence for oscillators like RSI and PPO adds further strength to the idea that SHIB has the potential to test $0.000010, which would be around 20% above the prevailing market price. Analysts also point out that the supply available in exchanges has added an interesting twist, where over 53 trillion SHIB has been taken out of exchange supply in the past few days, which has further reduced the float available to 287 trillion.
Historically, a sharp decrease in exchange supply has been perceived as a sign of re-positioning of funds among long-term investors. However, traders are also aware of the support zone of $0.00000753, which has been identified as the major determining factor for a negative market mood in the near term, as investors are faced with a challenge of determining which crypto to buy now.
Progress of Presale in Mutuum Finance (MUTM)
Mutuum Finance (MUTM) has been rising swiftly in its presale. The presale has progressed to Phase 6, which now has a price of $0.035. 98% of Phase 6 has been accomplished, and when Phase 7 starts, the value of the token will be $0.04. A total of $19,330,000 has been raised, with 18,450 holders. These developments make MUTM relevant in relation to recommendations for which crypto to invest in. The listing price for this project has been set at $0.06, which would indicate a 300% ROI for those involved in Phase 6.
One of the latest features that has been incorporated into the ecosystem of Mutuum Finance (MUTM) is a leaderboard that showcases the top 50 token holders. This design has proven effective in providing users with better insights. This has been attributed to a project that aims to maintain transparency, especially in its early development life.
Buy and Distribute Mechanism
Mutuum Finance (MUTM) operates on a buy and distribute model, which seeks to align all activities of the protocol with the use of their token. In this model, part of the fees acquired from any form of loan or borrowing operation being carried out in the protocol is used to buy MUTM. These MUTM are then given to mtToken stakers, who are part of the liquidity flow of this protocol.
The mechanism works with the aim of developing a closed-loop feedback mechanism, whereby actively using the protocol has a direct bearing on the overall flow of tokens. Market analysts debating which crypto to invest in have highlighted that strategies like these are effectively measured in terms of functionality and sustainability as opposed to mere performance, further confirming the objective format of MUTM.
Leaderboard Activity and Community Engagement
There is a leaderboard that runs for 24 hours. This leaderboard resets every day at 00:00 UTC. The person with the biggest investment for 24 hours will walk away with $500 in MUTM. This leaderboard also comes with a project analysis system that provides a live feed of all transactions taking place in relation to the presale. All these features fall under community engagement. While SHIB attempts to check for sufficient patterns in their charts to form a potential comeback, Mutuum Finance takes the lead as a top crypto to buy now.
For more information about Mutuum Finance (MUTM) visit the links below:
Website: https://mutuum.com/
Linktree: https://linktr.ee/mutuumfinance
