Shiba Inu Investors Turn to New Rival, Here’s Why it Could 100x
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 $0.6491.
The most explosive intraweek gains among the five biggest meme coins by market capitalization were also Shiba Inu-flavoured projects.
Solana’s DogWifHat ($WIF) rose 18.4% to $1.65, while Floki ($FLOKI) added 22.4% to hit $0.0001393.
By contrast, market leader Bitcoin ($BTC) rose 4.8% and Ethereum ($ETH) added 2.3%.
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
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