Shiba Inu ($SHIB) Sinks 40% in 60 Days – BNB & XRP Holders try to Adapt While PlutoChain Could Gain Attention

Shiba Inu ($SHIB) is still having a tough time, even with a small price bump. Over the past 60 days, it's dropped 40%, showing signs of negative movement.

Because of this, even BNB and XRP holders are starting to explore other options.

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While XRP and Binance work through market changes, PlutoChain ($PLUTO) could catch attention as a Layer-2 solution that may solve two big issues with Bitcoin – scalability and high transaction fees. PlutoChain might go a step further by bringing smart contracts to Bitcoin, potentially making it a strong competitor to platforms like Ethereum.

PlutoChain ($PLUTO) Could Boost Bitcoin with Faster Transactions, Efficiency, and Blockchain Connectivity

Bitcoin has always struggled with slow transactions and high fees, but PlutoChain ($PLUTO) could help fix that. Instead of Bitcoin’s 10-minute block times, PlutoChain’s Layer-2 network offers ones of just 2 seconds, potentially making transactions much faster.

It could also bring EVM compatibility, allowing Ethereum-based projects to run on Bitcoin. This means developers might be able to move their projects over more easily – giving Bitcoin new features and making it more useful.

Early tests show PlutoChain can handle 43,200 transactions a day, which may make it a faster and more scalable option compared to Bitcoin’s main network.

Security is also a priority – and the project has passed through audits from top auditing firms like SolidProof, QuillAudits, and Assure DeFi to help ensure the platform is safe and reliable. On top of that, PlutoChain might introduce a governance system that lets users have a word in decisions through community voting.

Is SHIB Heading for a Bigger Drop or a Surprise Comeback?

Right now, SHIB is priced around $0.000015, but it could drop to $0.000012 in the next few weeks. The market is still uncertain and the Fear & Greed Index is at 48, showing that investors aren’t feeling confident, but analysts like JavonTM1 think the price could be set for a run to new all time highs.

Looking at key price levels, SHIB’s 50-day moving average is at $0.000020, while the 200-day moving average is slightly lower at $0.000019. This suggests the price is trending downward. The 14-day Relative Strength Index (RSI) is at 42, which means SHIB is still weak and hasn’t shown strong signs of recovery yet.

Are BNB and XRP Investors Looking to Expand Their Portfolios?

As SHIB’s price keeps dropping due to big withdrawals and market ups and downs, investors in Binance Coin ($BNB) and XRP are starting to look for new opportunities. On Binance, large holders still own a big chunk of BNB, with the biggest one holding nearly 30 million – about 20% of all BNB in circulation.

XRP investors are also keeping a close watch on the market. The largest XRP wallets each hold around 5 billion XRP, making up about 5% of the total supply. When a small number of wallets control a lot of tokens, prices can swing more if those holders decide to buy or sell large amounts. Because of this, many investors are now looking to spread their investments into different assets to reduce risk.

The Takeaway

SHIB’s price is still having a hard time, even after some recent gains, as indicators show it remains weak. A large withdrawal of 86 billion SHIB, along with a bearish market outlook, is adding to the pressure. At the same time, Binance Coin and XRP investors might start exploring new investment options.

While SHIB tries to make a comeback, PlutoChain ($PLUTO) could gain attention. as a Layer-2 solution that might make Bitcoins transactions faster and more cost-effective. What could make it stand out even more is its plan to introduce smart contracts to Bitcoin, potentially creating new possibilities.

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This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page. Readers should do their own research before taking any action related to cryptocurrencies. CryptoDnes shall not be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, goods or services mentioned.