Shiba Inu (SHIB) is fast falling out of fashion in 2024, while MakerDAO-issued stablecoin DAI (DAI) has seen better days. Meanwhile, a low-cap presale gem which market analysts believe has the potential to be the next 50x gem has drawn 2,200+ presale investors just 1 week into its launch has emerged in the form of DeeStream (DST). Shiba Inu (SHIB) and DAI (DAI) holders are taking out early positions in DeeStream (DST), and for good reason. Here’s why.
DAI (DAI) Supply Dwindles to Record Lows
The total supply of DAI (DAI), a stablecoin issued by MakerDAO, has fallen to record levels since August 2023. A major catalyst to the decreasing supply of DAI (DAI) arises from its Collateralized Debt Position. Whenever the prices of the assets backing DAI (DAI) fall, it triggers an increase in interest rates for borrowing the stablecoin on the platform. The result is higher interest rates, preventing new borrowers from taking out new loans on the platform. Likewise, higher interest rates force existing borrowers to repay their loans at the soonest time possible to avoid high fees. All of these factors lead to a decrease in the total supply of DAI (DAI) in the market.
Is Shiba Inu (SHIB) Unironically Finished?
According to data from IntoTheBlock, almost two-thirds of Shiba Inu (SHIB) holders are holding at a loss. Moreover, 78% of Shiba Inu (SHIB) token supply is concentrated between a few wallets. Shiba Inu (SHIB) holders are in dire straits, and at the mercy of a few whales. Should the Shiba Inu (SHIB) whales choose to dump, this could tank token prices to below $0.0000089, where Shiba Inu (SHIB) currently trades. That’s a precipitous 40% drop in prices from the past year.
DeeStream (DST) Presale Closing In On 3,000 Holders
DeeStream (DST) is making serious waves with the launch of its decentralized live streaming platform, with the presale closing in on over 2,200 holders as of stage 1. Currently, its native token DST is priced at just $0.035, representing an ideal entry opportunity for prospective investors looking to turn in a profit in 2024. Market analysts believe DeeStream (DST) could go on a parabolic run and trade around the $1.75 mark towards the end of 2024, representing a 50x gain should the widely-expected bull run materialize.
DeeStream (DST) will compete for a piece of the multibillion-dollar live streaming industry against centralized industry heavyweights like Twitch, Kick, TikTok, and YouTube Live—but without their drawbacks.
DeeStream (DST) removes the hindrances of centralized governance, censorship, slow payment times, and hidden fees. Content creators and streamers will have all the freedom to explore alternative income streams and monetization options, as well as alternative ways to grow their audiences—without the limits imposed by conventional streaming platforms.
Prospective investors need to act fast, with stage 1 almost fully sold out. Every succeeding stage of the DeeStream (DST) presale will feature token price increases, giving early investors to sit on profits even before DeeStream (DST) launches on major exchanges. Don’t miss out on what market analysts believe could be among the top performers of 2024—join the DeeStream (DST) presale today.
Find out more about the DeeStream (DST) presale by visiting the website here