Dogecoin crashed into the red zone, reflecting the growing panic among risk-averse investors and memecoin traders. The uncertainty surrounding meme-based tokens intensified after the LIBRA debacle, where reckless promotion from Argentina’s President Javier Milei triggered a speculative frenzy. Investors rushed to accumulate LIBRA, only for insiders to pull out, dumping the project to almost zero.
In response, smart money is closely watching the growing adoption of payment networks and making moves to PayFi protocols like Stellar (XLM) and Remittix. The impressive growth of this market niche is expected to continue this year, and investors are locking in.
Let’s take a look at why experts are backing Stellar and Remittix ahead of Dogecoin in the coming bull run.
Dogecoin Faces Renewed Pressure
Once hailed as the father of all memecoins, Dogecoin is now facing its third consecutive day of losses after bulls failed to sustain a recovery to $0.2874. The downturn comes as the global crypto market capitalization drops 1.6% to $3.14 trillion, with Dogecoin mirroring the broader panic gripping the memecoin sector.
The sell-off was fueled by growing skepticism after LIBRA’s collapse, which saw the token sink more than 95% from its peak of $1.03 on February 15. The implosion of LIBRA has heightened fears that meme coins remain highly vulnerable to insider manipulation.
Source: Coinmarketcap
At the time of writing, Dogecoin is exchanging hands at $0.253, having dumped double digits in the past month. This bearish trend has wiped out nearly $5 billion from the memecoin market in the last 24 hours. Rising selling pressure and fading sentiment around Dogecoin signal further potential downside.
Market analysts warn that the risk-off mode among memecoin investors could persist; hence, investors are urged to switch to utility-based payment networks like Stellar and Remittix will lead the next phase of the market rally.
Stellar (XLM): The Rise of Payment Networks
Stellar (XLM) has long been one of the biggest names in the payment network space. The project is often regarded as a close relative of Ripple’s XRP because Its founder, Jed McCaleb, was an integral part of Ripple’s early history.
Technical analysis suggests that XLM is forming a bullish flag pattern. If Stellar breaks out as expected, the price of XLM could soar from its current $0.327 to $1.80.
Source: Coinmarketcap
Beyond technicals, Stellar is also gaining momentum due to growing institutional interest. The potential approval of an XRP ETF could pave the way for a spot XLM ETF, which Canary Capital has already filed. This approval would trigger more inflows for Stellar from Wall Street investors, setting up Stellar on a parabolic breakout in 2025.
Remittix: The PayFi Protocol Aiming for the Stars
Exchanging cryptocurrency has never been simpler—unless you’re dealing with a centralized exchange, enduring high fees, and waiting days for bank deposits. Remittix eliminates these inefficiencies by providing instant cross-border transfers at lower fees than traditional wire services.
Market observers note that Remittix’s approach is more than just another DeFi gimmick. The platform is tapping into the $183 trillion global remittance market, offering a real-world use case that extends beyond crypto enthusiasts.
LIBRA might have been manipulated and abandoned by insiders; Remittix, on the other hand, has undergone a full smart contract audit and locked its team tokens for three years, eliminating the risk of insider sell-offs.
Early-stage investments in Remittix have already surpassed $12 million, but tokens are still discounted, selling for $0.0628 apiece—a price that may not last long as demand surges.
Discover the future of PayFi with Remittix by checking out their presale here:
Website: https://remittix.io/
Socials: https://linktr.ee/remittix
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