Meme coin investors are shifting their focus from Shiba Inu to potential Dogecoin rivals that are still in presale, leading to a decrease in Shiba Inu’s market cap. Shiba Inu has seen a recent drop of 5% over the week and 1.2% overnight, currently trading at $0.00001333. Dogecoin, on the other hand, experienced a 5.8% decrease over the past seven days, trading at $0.1001. Among the top ten meme coins, several have seen double-digit drops, including Pepe, DogWifHat, Bonk, Brett, and Popcat. In contrast, Bitcoin and Ethereum have only experienced minimal decreases.
Shiba Inu has been trading between $0.000015 and $0.00002 for most of the summer, with a recent crash on August 5 pushing the price down to $0.000011. There is potential for further downward movement to a support level of $0.00001. The relative strength index (RSI) of 53 suggests that falling momentum may decrease once the wider market rebounds. Currently, the overall crypto market lost 2.8% in the last 24 hours, with meme coins capitalizing $38.4 billion of the market.
Despite Shiba Inu’s recent price performance, investors are showing interest in the PlayDoge presale, a Shiba Inu-themed project delving into DeFi gaming. PlayDoge has already raised $6.1 million in investments during presale and offers an opportunity for early investors to participate. This project has garnered endorsements from popular YouTube crypto analysts and aims to bring back the nostalgia of the 90s by incentivizing players with crypto rewards for virtual pet ownership. PlayDoge operates on the Binance Smart Chain, potentially leading to a future Binance listing. Interested investors can participate in the presale by connecting their wallets and purchasing $PLAY using BNB, ETH, USDT, or credit cards.
It is crucial to note that cryptocurrency investments involve high risks, and this article serves as informational content and not investment advice. Potential investors should be aware of the possibility of losing all capital invested. The PlayDoge presale presents an exciting opportunity for those looking to explore the emerging sector of DeFi gaming and engage in early-stage investments. To stay updated on the project’s developments, individuals can join the PlayDoge community through various channels and visit the project’s website for presale investment opportunities. Keep track of the latest crypto trends and potential investment opportunities to make informed decisions in the dynamic world of digital assets.
