Shiba Inu Investors Shift to This New ICO – Could It Deliver 1,000% Gains?
Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...
Shiba Inu (SHIB) investors are panicking because of the meme coin’s sharp reversal from recent highs amid rising geopolitical tensions in the Middle East. Some are instead shifting to a new ICO with big upside potential as a hedge.
SHIB was last trading around $0.00001570, a near 30% drop from last week’s highs in the $0.22 area.
Following a rapid Shiba Inu price surge last week, traders had been growing increasingly optimistic that a new meme season was incoming.
Indeed, October is typically the best month of the year for major cryptos.
However, Iran’s missile strike against Israel has spoiled the party.
Everyone on X : " Uptober is here, Q4 is very bullish"
Iran to Israel : pic.twitter.com/AIUwi7G5fW
Israel is expected to respond with its own strike within days, and we could soon be headed towards all-out war in the region.
That could have a big impact on the global economy by choking off a significant portion of crude oil produced and exported through the Strait of Hormuz.
That explains why investors have been moving from riskier assets like stocks and crypto into safer assets like bonds and gold in recent sessions.
Meme coins like Shiba Inu are often the first assets to get dumped in such an environment.
Shiba Inu could soon retest its recent lows in the $0.000013 area.
However, one new ICO called Meme Bets (MEMEBETS) continues to attract substantial demand despite geopolitical turmoil.
Meme Bets is a new crypto web and Telegram casino with a twist – it specifically targets the meme coin degen crowd by allowing them to play with
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