Shiba Inu, the world’s second-largest memecoin by market capitalization, is currently embarking on an interesting trend. After two years of bearish market movement, SHIB is finally seeing a potential reversal of the trend. But in a surprising development, a growing number of investors are moving funds into the presale of Mollars, a store-of-value token like Bitcoin set to launch on June 2nd. So many investors have gone into the ICO that Shiba Inu (SHIB) token ranks as the 2nd most commonly held token by Mollars presale investors as it passes 3.1-million tokens sold.
After the February rally that led to the memecoin gaining over 280% in value, this momentum appears to be slowing down. CoinMarketCap’s monthly charts indicate that SHIB is heading to its first negative month since this surge, down by 5% at this time of writing.
However, the yearly chart showcases a more positive perspective. Over the past 365 days, the token gained over 190% in value, indicating a significant uptrend in investor interest and market performance. Despite this overall positive trajectory, the past 24 hours have seen a slight downturn, with a negative 2% decrease in value.
Moreover, there has been a notable surge in the number of deposit addresses on exchanges, as indicated by data from CryptoQuant. The data reveals a significant peak in late May, suggesting that many SHIB holders have transferred their tokens to exchanges. This sudden increase in deposit addresses signifies a potential shift in investor behavior, with more holders opting to move their assets into trading platforms for various reasons.
According to CryptoQuant’s analysis, the recent surge in deposit addresses typically precedes a sell-off event. When holders transfer their tokens to exchanges, they often liquidate their positions, creating selling pressure in the market. This influx of sell orders may lead to an increase in supply on exchanges, potentially causing prices to decline if demand fails to match the increased supply. These developments underscore the importance of monitoring exchange flows and investor sentiment for assessing potential market movements in the SHIB ecosystem.
SHIB investors buying Mollars presale
Interestingly enough, there has been an increasing number of SHIB investors buying into a new presale on the Ethereum Blockchain. Mollars, a token designed to serve as the network’s store of value token, has garnered attention from SHIB enthusiasts looking for potential better-performing investments.
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The project shared on X a comprehensive list of crypto communities participating in the presale. Based on an analysis of Mollars presale wallet addresses, Shiba Inu investors rank as the second-largest group of buyers.
SHIB investors entering the Mollars presale indicate a growing belief among the community that it could exceed expectations post-June 1st ICO. This sentiment stems from the currency’s limited supply scarcity, with only 10 million tokens available, making it a rare asset in the cryptocurrency sphere. This scarcity, coupled with its role as an Ethereum Blockchain hedge against inflation, attracts investors seeking stable value storage amid economic uncertainty.
The success of the presale is evident from various crypto communities’ participation, with notable contributions from Shiba Inu holders. Currently, over 30% of the total supply has been sold, generating over $1.4 million. This robust demand reflects market confidence in Mollars’ value proposition and potential growth in decentralized finance.
Additionally, Shiba Inu investors appear optimistic about Mollars’ performance due to its seamless integration with Ethereum’s ecosystem. Its limited supply and its status as value storage complement Ethereum’s capabilities, making it an attractive investment for portfolio diversification within the Ethereum Blockchain.
Scarcity rules Mollars economy
The currency is designed following the principle of scarcity generating more demand as ERC-20 users opt to make $MOLLARS a store of value. In layman’s terms, the token’s supply of only 10 million tokens can lead the token to become more “in-demand” over time—leading to substantial growth.
Gold, the most successful store of value in history, became an asset against inflation because its availability is limited. Contrary to common perception, gold is a rare asset with a finite global supply. The discovery of new gold mines can impact its price, as a sudden increase in supply may dilute its value.
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Under a similar premise, Mollars is establishing an economy grounded in the rarity of each token. As user interest grows, increased demand drives up the token’s value, making each unit progressively more difficult to acquire. This mirrors the trajectory of Bitcoin, which started at a fraction of a penny and has surged to a value exceeding $60,000 today.
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