The price of Shiba Inu (SHIB) has dropped by 1.5% in the past hour, cutting away at gains the meme token had made as part of a market-wide rally this morning.
At $0.00000750, SHIB is up by a very modest 0.4% in 24 hours, with the altcoin down by 4.5% in a fortnight and by 6.6% in the last 30 days.
Even more worryingly, SHIB has also fallen by 7% since the beginning of the year, whereas many major tokens have actually recovered substantially, with Bitcoin (BTC) increasing by 85%.
This fall suggests that SHIB could be in the midst of a terminal decline, with newer meme coins – such as Thug Life Token (THUG) – generating considerably more hype and interest at the moment.
Shiba Inu is Going to Zero as SHIB Price Falls 10% and This Lesser Known Meme Coin Might Be the Next Crypto to Explode
SHIB’s dip in the past hour has left its price chart in a mixed and confused position, with its relative strength index (purple) resuming a decline towards 40, which is definitely more indicative of selling (rather than buying) pressure.
At the same time, SHIB’s 30-day moving average (yellow) looks as though it’s about to dip below its 200-day average (blue), a move that would indicate further losses.
One small source of potential comfort is the fact that SHIB’s support level (green) has risen slightly since the middle of June, suggesting that any further falls may not be too deep.
Still, things don’t look especially great for SHIB, and one of the reasons for this is that investors have grown tired of waiting for the arrival of Shibarium, its layer-two network.
As a layer two, Shibarium is designed to make Shiba Inu transactions cheaper and faster, something which should help its ecosystem to grow.
However, it has remained in the testing phase for several months, with its full launch seemingly being pushed back every month.
Frustration with such delays helps to explain why SHIB has declined where many other coins have gained.
Such frustration has also led many investors to look for new sources of above-average gains, with a number of new meme tokens emerging this year to beat the market on various occasions.
One of the newest and most exciting of these is Thug Life Token (THUG), an ERC-20 meme token that has allied itself with the gangsta rap and hip-hop communities.
It launched its presale just over a week ago and has already raised $500,000, providing a sure sign that it’s making strong progress in accumulating a significant community of holders.
Thug Life Token’s presale will have only one stage and will end in only 11 days, giving interest investors only a limited time in which to grab some of its supply.
Speaking of its supply, it will have a hard cap of 4.20 billion tokens, with 70% of this quantity reserved for the presale.
This will ensure that THUG remains relatively decentralized compared to many other meme tokens, while also providing its community with the kind of large stake in its future that will help support its price.
New buyers can join the presale by heading over to the official Thug Life Token website and connecting their software wallets, with 1 THUG costing $0.0007.
Such a price could easily surge once THUG launches on exchanges, something which is expected to happen by the end of the month.
The price of Shiba Inu (SHIB) has been falling in recent weeks, and some analysts believe that the meme coin could be heading to zero. However, others believe that SHIB could still be a good investment, and that it could explode in value in the future.
There are a few reasons why some analysts believe that SHIB could go to zero. First, the meme coin has a very large supply, with over 589 trillion SHIB tokens in circulation. This means that it would take a lot of demand to drive the price of SHIB up significantly.
Second, SHIB has been losing popularity in recent months. The number of active SHIB wallets has been declining, and the amount of SHIB being traded on exchanges has been falling. This suggests that investors are losing interest in the meme coin.
However, there are also some reasons to believe that SHIB could still be a good investment. First, the meme coin has a strong community of supporters. These supporters are constantly buying and holding SHIB, which could help to keep the price from falling too low.
Second, SHIB is undergoing some development that could improve its value. For example, the developers of SHIB are working on a new layer-2 blockchain called Shibarium. This blockchain could make SHIB more scalable and efficient, which could lead to an increase in demand for the meme coin.
Overall, it is too early to say whether SHIB will go to zero or explode in value. The meme coin has a lot of risks, but it also has some potential upside. Investors should do their own research before investing in SHIB.
As for the lesser-known meme coin that could explode in value, there are a few that have been gaining attention recently. These include Dogelon Mars (ELON), Floki Inu (FLOKI), and Kishu Inu (KISHU). These meme coins are all based on the same concept as SHIB, but they have smaller market caps and lower prices. This could make them more attractive to investors who are looking for a high-risk, high-reward investment.
However, it is important to remember that all meme coins are very risky investments. Their prices are volatile, and they could lose all of their value in a matter of days. Investors should only invest in meme coins if they are willing to lose all of their money.