As the Shiba Inu (SHIB) price struggles in a long-term downtrend, Shiba Inu holders are beginning to back a new meme coin project, with some analysts predicting gains of as much as 10x or 1,000%.
Last at $0.00001320, Shiba Inu has been in a downtrend since hitting yearly highs above $0.000045 earlier this year.
Two rejection of its 50DMA in the past 2 months suggests the bears remain very much in control.
A retest of August lows under $0.000011 is on the cards in the weeks ahead.
Its no surprise then that Shiba Inu holders are looking for alternatives, with one new meme coin project called Shiba Shootout (SHIBASHOOT) receiving a lot of attention.
New meme coin project Shiba Shootout is a Wild West-themed play-to-earn (P2E) game that has already launched on Google Play and the Apple App Store.
In order to power its ongoing development and marketing drive, Shiba Shootout is conducting a presale of its native SHIBASHOOT token.
The presale has been a blockbuster success, raising over $1.1 million in early investment.
New Meme Coin Project Shiba Shootout – Analysts Predict Big Gains
The fact that investors are rushing to secure SHIBASHOOT is no surprise given that dozens of analysts and crypto influencers have come out to predict big things for the token.
Popular presale analyst Jacob Crypto Bury thinks the coin has 10x potential in a recent YouTube video.
ClayBro, meanwhile, told his 130,000 subscribers on YouTube that new meme coin project Shiba Shootout could be poised for 20x gains.
Analysts here at Cryptonews.com also think that Shiba Shootout has a lot of potential, ranking it amongst their best presales to buy now.
Shiba Shootout – Also a Passive Income Gem?
35% of the SHIBASHOOT token supply has been allocated for the presale.
A further 20%, meanwhile, has been reserved for presale investor staking rewards.
That means new meme coin project SHIBASHOOT is not only one of the most promising P2E games right now, but it is also a passive income gem.
Per the project’s official website, presale investors can stake their tokens for a yield of around 858% APY.
At that staggering rate, a presale investor could double their SHIBASHOOT bag in just a few weeks.
Interest buyers can easily join the presale.
All they need to do is head over to the Shiba Shootout website, connect their wallet, and buy using ETH, USDT, or BNB. Bank cards are also accepted.
Prospective investors are encouraged to move quickly before the presale ends.
Connect with the new Shiba Inu project, Shiba Shootout, on X and Telegram for timely updates.
The post Shiba Inu Holders Back New Meme Coin Project – Could This Be the Next 1,000% Winner appeared first on Cryptonews.
Read More from Joel Frank on cryptonews.com