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The Shiba Inu price dropped 1% in the last 24 hours to trade at $0.00001364 as of 4.40 a.m. EST on trading volume that went up 3% to $321.9 million.
The token saw strong price volatility, both in the last 24 hours and in the last week. Its value dropped below $0.0000130 before surging beyond $0.0000145. This fluctuation would be due to the recent surge in whale activity.
According to reports, the second-largest meme coin experienced a major boost in whale activity, with large transaction volumes soaring by over 240%, especially in the last 24 hours. During this time, transactions by these whales increased from 326.98 billion SHIB to 781.4 billion SHIB.
Shiba Inu Price Prediction
The Shiba Inu price has seen great volatility, which shows no signs of ending soon. Numerous technical indicators suggest that the price is not yet ready to settle.
SHIB’s Bollinger Bands, for example, remain wide, which is typically a bullish signal. However, the SHIB price is currently pushing the lower band further down, which is, obviously, bearish behavior.
On the other hand, the project’s Relative Strength Index (RSI) value has recently dropped from the neutral zone to the oversold area, suggesting that the bears are in control of the market.
It is worth noting that this might be an indicator that the situation could change in the near future, and perhaps offer an opportunity for the buyers to buy SHIB at a low price. The meme coin seemingly found its bottom at $0.0000130, which was the lowest point it reached in the past six months.
However, SHIB has also been spiraling further down since March, so this downward trend could continue until the moment the next year-long rally starts. Traders therefore need to keep a close eye on the meme coin and the rest of the market. Buying at the right time could result in major profits when the rally kicks off.
Promising Alternatives to SHIB
With the Shiba Inu price being as volatile as it is right now, one of the best alternatives for investors is to go for the newest Shiba Inu clone, Shiba Shootout (SHIBASHOOT). Not only is the project immune to volatility due to it being in the presale stage, but many believe that its potential goes beyond the original.
Shiba Shootout is the new Shiba-based meme coin that places the popular meme dog in the Wild West. The project doubles as a P2E game that is completely Shiba-themed, introducing characters such as Marshal Shiba and Shiba Sharpshooters, as well as the fictional Wild West town of Shiba Gulch.
Everyone's talking about us Sharpshooters 🚀 get involved now while your still so so early! Join Mashal Shiba an the sharpshooter community today!! 🤠 🤠 💥 🔫 🔫 https://t.co/OhG19zdBR2
— shibashootout (@shibashootout) August 12, 2024
The project’s game, known as Shiba Sharpshooter, is available for download right now on both Google Play and the Apple App Store. However, it has yet to receive its Web3 update which will reward users with SHIBASHOOT tokens for winning sharpshooting duels. The update is likely to arrive around the same time as the token’s launch, making this a good opportunity to get the game early and get some practice in before there is real money on the line.
For the moment, SHIBASHOOT is in the ICO stage, and has so far raised over $933k. The project is currently on track to reach $1 million. This has brought quite a bit of excitement to the SHIBASHOOT community, as many expect whales to become a lot more active after this milestone.
The excitement has caused numerous crypto experts, including an analyst from the crypto YouTube channel Cryptonews, to speculate about its potential and future.
In the meantime, interested investors can join the project’s presale and buy SHIBASHOOT at the current price of $0.0199 using ETH, USDT, BNB, or a bank card.
Purchase SHIBASHOOT on its official website here.
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