One of the leading meme coins, Shiba Inu, now faces a continuous price dip, sparking discussions in the market about whether investors should sell or hold.
Shiba Inu (SHIB) is experiencing the worst performance among meme coins this month. Amidst the turbulence in the cryptocurrency market, investors are struggling with decisions about their Shiba Inu holdings.
SHIB holders may face a prolonged recovery period due to unfavorable market conditions hindering a bullish outcome.
In this article, we delve into the current state of Shiba Inu and the broader crypto market. Plus, we explore one of the best crypto presales of 2024, PlayDoge.
SHIB price prediction
Despite some positive news, Shiba Inu has seen a 4% decrease in the past 24 hours and is down by 10% for the week, leaving many investors uncertain about its next price movement.
The Fear and Greed Index shows a fear level of 44, suggesting sentiment may worsen. Bitcoin and Ethereum have declined significantly, with Bitcoin dropping and Ethereum falling below $3,500. Binance has also dipped below $600.
Recent market sell-offs present a buying opportunity despite negative technical indicators. Shiba Inu’s 31% decline over the past month offers a potential entry point for investors. Interestingly, large investors (whales) have been making significant moves in the market.
In the past 24 hours, two whales deposited substantial amounts of Shiba Inu and Pepe into Binance. This activity could indicate bearish sentiment among large holders towards Ethereum and meme coins. However, if whales start re-entering the market, a strong reversal could be on the horizon.
Shiba Inu remains a dominant player in the meme coin sector, with a market cap of $10 billion, trailing Dogecoin by $8 billion. There’s potential for Shiba Inu to surpass Dogecoin, which would be a monumental event in the cryptocurrency world.
Recent reports indicate that Shiba Inu’s burn rate has surged by 6,000%, sparking optimism for a price rally. As the supply of Shiba Inu decreases, market sentiment is turning positive, suggesting potential price increases.
The anticipation of Donald Trump speaking at the Bitcoin July 2023 conference in Nashville adds another layer of bullish sentiment to the market. Despite market uncertainty, Shiba Inu remains upbeat. Welly’s fast-food chain is opening a new location in Italy, inspired by Shiba Inu.
Moreover, the Badbrigade’s $BAD token secured a listing on CoinEx through community support, highlighting crypto collaboration. Shiba Inu’s golden sponsorship for IVS Crypto 2024 underscores its expanding influence in the crypto community.
We're excited to announce we are Gold Sponsor at @IVS_Official!
See you in Kyoto from July 4-6!そこで会いましょう 🇯🇵 pic.twitter.com/ov0zRklG8s
— Shib (@Shibtoken) June 21, 2024
PlayDoge – Next crypto to explode in 2024
If you’re seeking an altcoin with the potential for 10x returns, consider the PlayDoge meme coin. The project has raised $5 million in its limited-time presale phase, and the development team plans to list $PLAY on DEXs later this year.
Currently, $PLAY tokens are priced at $0.00513 each, but this price will increase over time due to the presale’s stage-based structure, rewarding early investors.
Interest in PlayDoge’s presale is growing on social media, with over 5,500 followers on X and more than 6,800 active members on the Telegram channel. The developers provide regular updates on presale milestones and development progress.
PlayDoge is a Play-to-Earn (P2E) mobile game where players adopt and nurture a virtual Doge pet, similar to a Tamagotchi. Players feed their pets, play mini-games, and care for them to prevent them from running away, earning $PLAY tokens over time.
By meeting their pet’s needs, players can earn a substantial amount of $PLAY tokens, which they can swap for other cryptocurrencies or stake for passive income. Currently, PlayDoge’s staking system provides an estimated annual yield of 124%. So far, investors have staked over 151 million $PLAY tokens since the presale began.
To instill confidence, the PlayDoge developers had the project’s smart contracts audited by SolidProof. The audit found no significant vulnerabilities, giving a stamp of approval to PlayDoge’s architecture.
Overall, PlayDoge’s presale success, innovative P2E model, and strong community engagement position it as a promising new entrant in the meme coin market. To take part in the $PLAY token presale, visit playdoge.io.
