What Does Shiba Shootout’s Recent Presale Tell Us About the Meme Coin Space?

With its unique depiction of anthropomorphic dogs, complete with cowboy hats, lassos, and guns, riding horseback and racing across the crypto frontier, Shiba Shootout stands out as another meme coin that has captured the attention of the crypto community amidst the current meme coin mania.

The project has raised more than $150k this week, making itself stand out from the crowd of standard tokens spreading across the blockchain arena.

What is Shiba Shootout, and does its presale’s success tell us about the current state of the meme coin space?

Shiba Shootout Raises Upwards of $150k in a Week

Shiba Shootout entered its presale phase with a bang, sending shockwaves throughout the crypto community thanks to its unique imagery that focuses on gaming, community, and freedom, three essences that define the meme coin space. The presale takes a multi-stage structure to provide early movers with enough opportunity to buy. The $SHIBASHOOT price at the current stage is $0.0187.

Meanwhile, the token boisterous image of cowboy doges is certainly its growth driver. What enticed people more towards this project were the utilities it provided to its users.

🤠 Ready for a wild ride? 🌵

Step into the digital Wild West of 'Shiba Shootout' where #crypto meets #Cowboys in an epic showdown! 🚀💰

Strap on your boots and get ready for adventure, strategy, and a whole lot of Shiba charm! #ShibaShootout pic.twitter.com/Loyf8CO1i1

— shibashootout (@shibashootout) April 15, 2024

Moving away from the same no-utility attribute that currently plagues the meme coin ecosystem, Shiba Shootout instead adopts a more useful approach. While its appeal is nonchalant, its perks are many.

The entire lore of the Shiba Shootout ecosystem explains its many use cases to us. There is talk about battles, campfire stories, rewards, and moving across the crypto frontier with grit; all these aspects add more sentiment to this unique meme coin.

Posse rewards offer gains to those who successfully share referral letters. Campfire stories promote engagement, savings saddlebags make holding crypto more appealing, governance can make the community more invested in this project, and cactus staking allows users to hold their Shiba Shootout tokens for longer to see their wealth grow.

We also cannot forget the Lucky Lasso Lotteries, which are designed to add gamified elements to standard airdrops.

A deep dive into these aspects teaches us three main things about the current ecosystem of the meme coin arena.

Key Insights into Shiba Shootout’s Recent Presale

Here are the main insights that Shiba Shootout has given us through its recent presale.

Meme Coins are Still Viewed Strongly 

Even though the day of halving has gone, meme coins still continue to thrive. The reason lies behind their joke-filled appeal.

Even when presented with tokens that have long-term upsides, people gravitate towards assets that can prove very beneficial in the short term. Due to the minimalism meme coins represent, such assets are generally the first to find buyers.

People are Looking for Long-Term Tokens

Those who didn’t give up after Bitcoin fell below its $20k mark during the last crypto winter in 2021 were able to make gains in 2024 when it reached its new all-time high. These investors accomplished this feat because they were patient.

They had patience that with time, the asset would grow. In order for an asset to be so persistent, it should have long-term benefits. Shiba Shootout might be a meme coin, but its looks haven’t been portrayed as its USP, its community, DAO, and other use cases have.

Therefore, Shiba Shootout’s ability to raise so many funds within a relatively short span of time shows that people are looking for assets that they can hold for a long time.

Projects with Utilities Will Grow the Most

While the meme coins that have made the most gains in the recent past have been the most bereft of any utility (read Pepe and Dogwifhat), utility-focused cryptocurrencies are still viewed in a better light.

Such investments have the potential to attract investors who are not “degens”. Degens are referred to traders who are in the habit of jumping before looking and getting their kicks from partaking in risky investments.

With a more stable and informed band of buyers behind a meme coin, a more goal-oriented community can be established. And when there is also a stable DAO – Decentralized Autonomous Organization – supporting this project, it is possible for it to persist for the long term.

Aesthetics Matter with Meme Coins

Whether Pepe’s minimalistic look is complemented by Sonic Inu’s more scribbled style or Dogecoin’s rather simplified style, aesthetics always matter.

Shiba Shootout presents investors with a project with a dark background and a sand-colored font that gives it a real frontier-like vibe, which is necessary for its aesthetic appeal.

The imagery of the doge sitting on horseback gives it the necessary Western vibe that adds to its lore.

Shiba Shootout Teaches the Community that Presales have Power

The final lesson that Shiba Shootout teaches the community is the most important one and deserves its own heading, which is that it is a presale.

Presale tokens allow investors to invest in assets away from the volatility of the crypto market. Furthermore, the hype they build during the presale can be enhanced.

Those who want to stay updated on Shiba Shootout’s presale should follow its Twitter and Telegram handles. To participate in the presale, visit the official website.

Visit Shiba Shootout Presale