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The Shiba Inu price surged 5% in the last 24 hours to trade at $0.0000138 as of 5.30 a.m. EST on trading volume that skyrocketed 82% to $218.5 million.
The second-largest meme coin saw its price go up as part of a wider crypto rally which has allowed most digital assets to see a similar surge.
News involving Shiba Inu’s lead developer, Syhtoshi Kusama, may have also contributed to the project’s price boost.
In an AB Majlis exclusive, @Shibatoken's enigmatic founders @ShytoshiKusama and @KaalDhairya break their silence. Will they ever reveal their true identities?
Join host Matthew Amlôt (@MatthewAmlot) as he delves into the world of memes, masks, and millions. Discover the vision… pic.twitter.com/C5Baso5MZV
— ArabianBusiness.com (@ArabianBusiness) August 19, 2024
The Shiba Inu developer appeared in the latest episode of the AB Majlis podcast alongside Kaal Kaal Dhairya, unveiling their intention to pass the control of the project entirely to its community by the end of the year.
In other words, the lead developer intends to step down and put Shiba Inu on the road to true decentralization, which is something that the network has been dedicated to for a long time now.
This will finally put Shiba Inu back on track with the original vision of its founder, Ryoshi.
Shiba Inu Price Prediction
While SHIB did see a major price surge in the last day or so, the project’s technical indicators suggest that Shiba Inu price could soon see a strong correction.
Shiba Inu’s Bollinger bands have suddenly narrowed, which is a bearish sign, even though its price is still pushing the upper band further up. The lower band is closely approaching, however, which could signal a potential correction in hours to come.
Another technical indicator, the project’s Relative Strength Index (RSI) recently ventured deeply into the overbought zone, reaching and exceeding the value of 80.
While it has dropped since, suggesting that some traders started selling to take profit, it is once again moving toward the overbought zone.
If the next correction takes place at the time when the wider crypto market starts to correct as well, SHIB could end up seeing a sharp drop that could potentially nullify its recent gains.
In other words, traders who plan to enter late and start buying SHIB now should at the very least be highly cautious.
Furthermore, those who lack the experience to handle cryptos in a highly volatile market might want to consider a safer, more promising alternative.
Promising Alternatives to Shiba Inu
With Shiba Inu possibly correcting soon, it might be a good idea for investors to consider some alternative projects, especially if they are concerned about crypto volatility.
There are plenty of high-potential meme coins that are still in presale right now, which means that they are immune to sudden price changes, at least while they remain in the ICO stage.
One great example is a Shiba Inu-inspired project called Shiba Shootout (SHIBASHOOT) — a Wild West-themed project that also launched its own game.
The token is a meme coin that will double as a P2E project once its token goes live. While its game is already out and available for Android and iOS devices, it currently still lacks the P2E model that will reward users with SHIBASHOOT tokens for playing the game.
$SHIBASHOOT isn't just another #memecoin 🤠
It's a Wild West adventure! 🤠 Strategy, fun, and real value with a clear roadmap.
Join the duel and experience the charm of #SHIBASHOOT! 💥 pic.twitter.com/g3UczQovFY
— shibashootout (@shibashootout) August 17, 2024
The update will come after the token’s launch, allowing users to win sharpshooter duels in the fictional town of Shiba Gulch, and receive rewards for doing so.
In the meantime, you can join the project’s presale and buy SHIBASHOOT tokens while their price is still low, currently sitting at $0.0199.
Many have already done so, believing that the project has massive potential and that it might even challenge the original Shiba Inu.
This is why its ICO has already raised $987k. If you decide to join the presale, you can buy SHIBASHOOT with ETH, USDT, BNB, or credit/debit cards.
The project has attracted the eyes of quite a few experts, including highly popular crypto YouTuber ClayBro, who recently said that this new crypto game could lets investors earn huge for free.
If you are interested in buying SHIBASHOOT tokens, act before a price hike in less than 3 days.
Visit the official SHIBASHOOT website here.
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