Popular cryptocurrencies such as Shiba Inu (SHIB), Dogecoin (DOGE), and Tron (TRX) have been showing bullish momentum recently, giving hope to their investors. But a newcomer to the crypto space, Uniglo.io (GLO), is giving investors more reason to be optimistic, as it exhibits a whopping 25% gain barely two weeks into its presale period.
Uniglo.io is a brand new DeFi project built on Ethereum that introduces an exciting dual token burn mechanism. Initially, the platform will create 218.75 million GLO tokens only. Over time, it will apply a standard burn mechanism for all buy and sell transactions. It will also implement an Ultra-Burn Mechanism that will utilize profits from the sale of high-value assets to purchase GLO tokens from the secondary market. With a constant effort to limit the supply of its token, the Uniglo.io community can more easily control the growth of GLO’s value.
Shiba Inu (SHIB)
Shiba Inu was under a lot of investor attention over the weekend of July 23-24. Investors were keen to see a price surge that could push a further 30% bull rally the following week. While the price of SHIB has not breached the resistance level that analysts were hoping for, the altcoin nonetheless has generally been on bullish momentum. For June 2022, the price of SHIB had a 34% increase. With the introduction of new developments and a possible new stablecoin to expand the Shiba Inu ecosystem, the price of SHIB could reach $1.
Over the last week, the price of Dogecoin has been spiking. The volume of operations for DOGE has also been surging – last July 18, the number of transactions was close to 70,000. This number is a far cry from the level of activity in mid-June when the transactions dropped below 20,000. The price of DOGE has had a recent 5% increase owing to growing whale activity.
Tron’s TRX token has seen bullish momentum as well. During the week of July 18, Tron had a 3.6% increase in its market capitalization, which brings its total market cap to just below $6.3 billion. Tron is set to expand its range of use cases to include a stablecoin ecosystem on top of the decentralized file storage and content distribution services existing on its platform.
The 25% surge in the initial price of GLO is a testament to the high level of interest that investors have in this new crypto gem. Now would be a perfect time to become part of the excitement around Uniglo.io. This new DeFi project has just begun preselling, which means that those who invest early could receive tremendous gains once the GLO token launches on October 18 later this year.
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