Shiba Inu Investors Turn to New Rival, Here's Why it Could 100x
Shiba Inu Investors Turn to New Rival, Here’s Why it Could 100x
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Fans of meme coins based around the legendary Shiba Inu doge meme, like Shiba Inu ($SHIB), Dogecoin ($DOGE), and DogWifHat ($WIF), are looking for new opportunities emerge to buy potential Dogecoin ($DOGE) killers.
Shiba Inu’s $8.6 billion market cap $SHIB token added 11% over the week and 3.4% overnight to trade at $0.0000146 at the time of writing.
Original meme coin Dogecoin grew 9.5% over the seven days and 3.5% over the last 24 hours to hit $0.109.
Among the top ten biggest meme coins by market cap, several added double-digit percentages this week. Popcat ($POPCAT) leads the charge with with a blistering 44% rally up to $0.6491.
The most explosive intraweek gains among the five biggest meme coins by market capitalization were also Shiba Inu-flavoured projects.
$SHIB’s Recent Price Performance
Over on Shiba Inu’s price chart, we can see $SHIB traded between $0.000015 and $0.00002 for most of the summer, before the crypto crash on August 5 dragged the price down as low as $0.000011.
However, the recent falling resistance levels (indicated by the red line) are steeper than the recent drops in support, indicated by the green line.
These two lines form a falling wedge shape, which helps explain the recent upward breakout from the mouth of the wedge.
A relative strength index (RSI) of 63 and rising indicates the asset is 7 points short of overbought and is likely to stabilize quickly.
However, Shiba Inu holders are looking into a new presale that could offer 100x returns even if the token only attracts a percent of Shiba Inu’s $8.6 billion market cap on listing.
Despite recently adding new privacy features and developing Shiba Inu’s proprietary Ethereum layer 2 SHIBARIUM, the $SHIB community still hasn’t found a clear edge above Dogecoin.
Those looking to buy early into a Shiba Inu-themed project with no clear competitors would do well to examine presales for the burgeoning sector of DeFi gaming.
The most exciting right now is the PlayDoge ($PLAY) token. The new multichain Play-to-Earn (P2E) blockchain-based tamagotchi remake is attracting millions in investments.
Already the ICO has already amassed $6.2 million in investments since launching mid-summer.
This means it’s still the perfect time to buy in for investors who want to get in from the start.
The feverish buying comes off the back of recommendations by several YouTube crypto analysts, including Clinix Crypto, 99Bitcoins, ClayBro, and Matthew Perry.
Fans of the 90s handheld digital pets will delight to see how PlayDoge gives incentivizes them with crypto to rekindle their childhood and become attentive virtual pet owners again, with exciting in-game adventures and mini-games.
And those that have bad memories of Tamagotchi the first time around need not fear: the difficulty curve on PlayDoge is a more forgiving, making him a more resilient pet than the high-maintenance Tamagotchis you probably remember.
$PLAY’s home chain is the Binance Smart Chain, now called BNB Chain. This could significantly facilitate a potential future Binance listing.
Moreover, SolidProof audited Playdoge’s smart contract, giving prospective investors peace of mind about the project’s security.
Joining the presale is easy: connect your wallet and start purchasing $PLAY using BNB, ETH, or USDT. PlayDoge also offers the option to use credit cards.
To keep up with the latest information about the project, you can connect with the community via X and Telegram.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.