Stunning SHIB, AVAX and SOL Forecast from the Consulting Giant!

Analysts at The Motley Fool, a US-based consulting firm, suggested that SHIB, AVAX and SOL offer a bright outlook for the rest of the year. Comparing 3 altcoins, experts are looking for the superior performance of the next bull run.

Projects and new features supporting Shiba Inu (SHIB) bulls

The Shiba Inu (SHIB) has taken investors on an incredibly crazy journey ever since it debuted in August 2020. The second largest meme project has a dedicated army of enthusiastic investors and supporters behind it, and efforts are being made to further strengthen community support around the token. The team behind the Shiba Inu is gearing up to launch a metaverse.

SHIB: The Metaverse

“SHIB: The Metaverse” will allow users to purchase and maintain virtual land plots and interact with other players. SHIB will have to be burned in order to be able to name plots. This will reduce the total number of SHIBs and make them more scarce, creating positive pricing trends.

SXSW Notice: We realize that some of you may be planning travel & organizing logistics.

In order to provide you with better assistance, our metaverse team is striving to share as much information as possible ahead of @sxsw Rather than waiting until the last minute to share!

— Shib (@Shibtoken) March 3, 2023

shibarium

cryptocoin.com As we reported, the Shiba Inu team has also launched the beta version of the Ethereum-based Layer 2 platform Shibarium. Shibarium is designed to accelerate transaction times and reduce transaction costs, pave the way for new development projects and facilitate the SHIB token burning. It will also use related tokens in the SHIB family as currency to power its operations, which can then be exchanged for SHIB.

In addition to a fundamental value situation that seems to be improving, SHIB can also continue to benefit from positive momentum in the wider crypto space. The cryptocurrency market made strong gains in the first quarter of the year, and it looks like some weaknesses in the banking sector may be pushing crypto investment dollars. If the crypto market continues to enjoy its bullish momentum, it might make sense to think the Shiba Inu will benefit from the trend, according to Fool analysts.

Caution: New projects may not be very large

While SHIB’s underlying valuation situation seems to be improving with new projects on the horizon, the token remains a highly speculative investment at its core. Until the Metaverse and Layer 2 offerings arrive and show signs of interest, SHIB remains a hype-driven meme token after all.

It is still possible for the Metaverse to function to promote SHIB or otherwise create conditions that work to raise its price. Analysts think what’s shown in SHIB: The Metaverse looks very impressive. The project was first announced over two years ago, and the Shiba Inu team has just released an official trailer that showcases the locations in the new game.

The Shibarium Layer 2 platform may have greater promise, but again, it’s not clear whether it can meaningfully move the needle for SHIB. Tier 2 implementation should enable the improvement of transactions for the token and may encourage new development projects built around the Shiba Inu ecosystem, but SHIB is primarily a speculative investment vehicle, not a currency.

While there are new use cases and functions of SHIB emerging, it is not clear whether these actually meet demand or have a good chance of creating new demand. After years of exaggeration, it’s entirely possible that SHIB: The Metaverse and Shibarium will fail.

Which is better: Solana or AVAX?

After Shiba, Solana and Avalanche have made surprising comebacks so far in 2023. The 2022 crypto market meltdown has turned out to be phenomenal performances this year, both of them. Solana increased by almost 110% and Avalanche by about 62%.

So which one is better to buy right now? While Solana may have outpaced Avalanche in 2023, there are a number of factors that make this comparison closer than you might think. As can be seen below, the two cryptocurrencies actually have very similar blunders for the first quarter of the year.

Left (LEFT)

Currently, Solana is losing momentum in the NFT sector, which is the only place it looks like it can challenge Ethereum. As a result of Solana’s well-known relationship with Sam Bankman-Fried and concerns over bankrupt crypto exchange FTX, several high-profile NFT collections have been moved from Solana.

Although Solana initially took a brave stance on these departures, this situation is starting to reflect on the numbers. For example, if you look at the latest NFT trading volume, you’ll see that transactions in the largest Solana NFT collections fell off the cliff this quarter. In the most recent 24-hour period, the largest Solana NFT sold for just $814.55, with most of the top NFT collections registering zero transactions.

Meanwhile, Ethereum still has two of the best NFT collections – Bored Ape Yacht Club and CryptoPunks – and shows no signs of giving up its dominance in the space. For comparison, the highest Ethereum NFT sale during the same period was a Bored Ape that sold for around $435,000.

Another major concern in Solana is the problem of network outages, which is still present. That crunch lasted through 2022 and should have been resolved by the end of last year when it had time to refocus on the fundamentals. But on February 25, Solana suffered a 20-hour network outage. This causes some developers and users to lose patience.

Avalanche (AVAX)

Avalanche has also dealt with its share of problems during the crypto winter and is finally regaining some of its former momentum. While Solana seems to be going after individual investors, Avalanche seems to have its eye on the institutional crypto market. So, while Solana promises NFT collectibles and mobile phones, Avalanche focuses on Blockchain developments that corporate America and Wall Street care about.

Case in point: Major financial institutions like BlackRock and Citigroup are talking about the enormous advantages of asset tokenization, the process of converting assets such as stocks and bonds into digital tokens that can be stored, accessed, and traded on a blockchain. Avalanche made headlines in this space with the tokenization of a $4 billion private equity fund in 2022.

In addition, Avalanche formed a major partnership with Amazon’s cloud computing unit in January to bring blockchain services to companies, large institutions and governments. This could be huge for Avalanche as it gains access to large institutions using Amazon Web Services. In short, all the same companies and institutions adopting cloud computing may now be tempted to try Avalanche’s Blockchain offerings, such as private networks known as “sub nets”.

Conclusion

Fool analysts are concerned about Solana’s slowing growth in key areas like NFTs, although Solana has clearly outpaced Avalanche in price this year. By contrast, Avalanche seems to be growing behind the scenes in ways that perhaps haven’t made headlines yet. For example, as Citigroup recently noted, asset tokenization could be the next “killing use case” for crypto, and Avalanche is a blockchain embracing this paradigm shift in the financial world.

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