Is Dogecoin Oversold? $DOGE vs. $ROE vs. $ARB In 2023
Dogecoin ($DOGE) is in the red zone following recent bearish events. However, analysts still expect it to put up a tough fight. Like Dogecoin, Arbitrum ($ARB) also suffers from bearish conditions, especially after rising competition from Optimism.
Now, all eyes are on Borroe.Finance ($ROE), as analysts say it holds the best potential for profit. $ROE is still in the early stages of its presale, but can it become a top ICO? Let’s see what the market thinks.
Dogecoin ($DOGE) Enters Red Zone Days After Being Listed on Robinhood
On August 30, 2023, Robinhood announced that its crypto wallet would now support Bitcoin and Dogecoin ($DOGE). The news excited Dogecoin’s community, causing many to expect a rally. Yet the market tumble of September 1 has affected $DOGE’s recent market performance.
$DOGE was trading at $0.066 on August 29. It fell by 4.5% to $0.063 on September 1 – two days after Robinhood’s announcement. As of September 13, $DOGE had dropped to $0.061 as its bearish momentum increased.
Despite being in the red zone, analysts say Dogecoin’s recent listing on Robinhood wallets shows its growing demand. They say Dogecoin’s adoption among institutional investors is also rising, as evident in its listing on Robinhood.
Furthermore, they conclude that other institutional crypto investment platforms could also offer support for Dogecoin ($DOGE) soon. If that happens, Dogecoin’s demand will skyrocket.
Analysts say Dogecoin’s rising adoption could boost $DOGE’s price when the market recovers. These analysts say $DOGE will rise to $0.071 as the crypto market recovers.
Borroe.Finance ($ROE): Early Backers Celebrate 25% ROI
Borroe.Finance ($ROE) is an invoice financing marketplace that leverages Polygon’s blockchain technology and AI services to provide instant fundraising opportunities. The platform is committed to the growth and development of the Web 3.0 industry. Borroe.Finance supports Web 3.0 companies by providing easy ways to generate instant funding.
Borroe.Finance enables companies to take loans using their future earnings as collateral. It uses fractionalized NFTs to represent collateralized future earnings. These NFTs are then sold at discounts, thus providing funding for companies. Examples of revenue streams that can be collateralized include royalties, management fees, and subscriptions.
Borroe.Finance offers several advantages not available in the traditional financing industry. With Borroe.Finance ($ROE), users offer speedy approvals, low costs, and instant funding. Furthermore, Borroe.Finance rewards users who are active on its marketplace.
Many users doubt that Borroe.Finance’s blockchain ICO is still in Stage 1 of its presale. $ROE’s current price is $0.0125. It jumped by 25% from its initial price of $0.0100. Yet more eyes are on the end of $ROE’s presale when it reaches $0.0400, jumping by 220% from its current price. A 220% growth might make $ROE one of the best DeFi coins available.
Arbitrum ($ARB) Faces Stiff Competition From Optimism
Arbitrum ($ARB) layer-two network faces intense competition from one of its largest rivals – Optimism. The competition took another turn when Arbitrum’s (ARB) market capitalization dropped below that of Optimism.
Arbitrum ($ARB) started facing heavy competition when Optimism signed a partnership with Worldcoin. The partnership caused Optimism’s transaction count to surpass that of Arbitrum in July.
Despite the tough competition Arbitrum faces, the $ARB token is also falling. $ARB’s fall was caused by the market slump of September 2023. It was trading at $0.94 on August 28. However, $ARB dropped by 6.3% to $0.88 on September 1 following the market wide slump.
Many analysts say Arbitrum’s woes could be worsened by competition from Optimism. They say continued competition between the two networks could cause a sharp drop in demand for Arbitrum’s services.
If Arbitrum’s network demand drops, recovering from the current bearish slump will be hard. Some analysts say $ARB could drop to $0.73 due to competition from Optimism.
Learn more about Borroe.Finance ($ROE) here:
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Filed under: Bitcoin - @ September 18, 2023 5:00 pm