Gnox (GNOX) stands its ground as Dogecoin (DOGE) and Shiba Inu (SHIB) dip

Gnox (GNOX) is on its way to becoming a well-known cryptocurrency due to its innovative plans for the crypto market.

The market, however, has been on the downturn with the likes of Bitcoin and Ethereum dipping with the latter trending below $3,000, at the time of publication.

The influence that the aforementioned cryptos have on the entire market is slightly understated as many cryptocurrencies below them such as Shiba Inu and Dogecoin are well into the red.

Gnox expected to surge

Gnox remains a highly anticipated project given the attention it receives from the people within the cryptocurrency industry.

The hype surrounding Gnox has ramped up in recent weeks as numerous media outlets have begun reporting on their exciting launch.

Gnox is the first DeFi earning protocol to provide investors with “Yield Farming as a Service.” It lowers access barriers through education, easier investment tracking, and a standardized investment vehicle.

Gnox will be the next evolution of reflection tokens on the Binance Smart Chain and the first self-accruing reflection token to maximize profits both now and in the future. It will be an easy-to-use DeFi earning solution for individuals new to crypto.

Individuals can hold Gnox in an eligible wallet and automatically receive rewards from every transaction.

As a multi-chain integration bridge, users will be able to exchange and trade tokens across the blockchains of Ethereum, Binance Smart Chain, and Polygon.

Crypto investors will finally be able to have the choice of which blockchain they want their transaction to be conducted on and will be able to take into account the cost-effectiveness and speed of the transaction.

Their objective is to provide the same quality of service to their holders without any additional processes. You buy, hold and profit, and delegate the grunt labor to them.

They will begin with a little treasury, and as it develops, their purchasing power will increase, allowing them to create more unique features and earn additional incentives for long-term holders.

Dogecoin (DOGE) dips at the end of the week

An extraordinary year of growth for Dogecoin (DOGE) in 2021 has unfortunately been followed by a year of stagnation in 2022.

It was always going to be a tall order for the meme coin to build on its unthinkable success in 2021 during the altcoin boom.

Having hit its all-time high of $0.731578 in May 2021, Dogecoin has since dipped over 81% to its current price of $0.136046, at the time of publication.

A dip of 6.8% in the past 14 days has continued DOGE’s slide but it remains the 11th ranked cryptocurrency in the world, amassing a market cap of over $18 billion, according to data from CoinMarketCap.

According to some crypto experts, DOGE will reach a level of $0.17 by the end of 2022.

Shiba Inu’s (SHIB) downturn continues

In a similar story to Dogecoin, Shiba Inu experienced a remarkable 2021, becoming one of the biggest and most well-known cryptocurrencies in the world.

However, a struggle has occurred to make the same inroads the cryptocurrency made in 2021 and there has been a lack of growth in SHIB.

Despite the stagnation, it has continued the development of its ecosystem with the launch of ‘Shib: The Metaverse’ as well as Shibarium, its layer 2 solution that will help the blockchain help with the increasing demand for transactions.

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