Popular crypto YouTuber Oscar Ramos has 1 billion Shiba Inu $SHIB tokens ($13,405 at today’s price), and by his estimate there is a small chance he can be a millionaire.
See, Shiba Inu currently trades around $0.000013. Its price remains virtually unchanged from 24 hours ago, but it has lost almost 5% from its price seven days ago.
Ramos calculates that Shiba Inu rising to $0.00003 would make anyone who presently holds 33.33 billion $SHIB ($446,789 at today’s price) a millionaire.
To achieve this price target, Shiba Inu would need to rally by more than 100%, which may be tough in this market cycle.
If Shiba Inu eventually rises a digit higher than that, to $0.0003, Ramos would need a little over triple his present stash of $SHIB to say he had a million dollars.
However, the influencer doesn’t see $SHIB’s price ever topping $0.003, as this would give the token a comparable market cap to the trillion-dollar Bitcoin ($BTC)—an unlikely event.
However, $0.00003 could be achievable within 2024. After all, the last time $SHIB traded that high was April 2 this year.
Since then it has been in steady decline, as the price chart for the last three months indicates.
Source: TradingViewShiba Inu has some strong support at $0.0000125, but even if the price rebounds back up, it’s likely to drop quickly again, maybe even falling below support, as the patterns suggest a bearish descending triangle could quickly scupper any growth.
With a rising relative strength (RSI) index of 56, $SHIB could be overvalued by the start of tomorrow. A likely spot of profit-taking could sink the price below its current support level.
Shiba Inu’s $SHIB Dips To Attractive Prices, The Meme Games
Shiba Inu’s high-profile price woes are a good litmus test for the state of the meme coin market, but follow the token too hard and investors could miss out on some of the great meme coins that are just launching.
Dubbed crypto’s official Paris Olympics meme coin by degens, The Meme Games ($MGMES) has already raised $418,000 for its buy-to-win bonus multiplier, since launching alongside the Olympic games earlier this summer.
Investors that purchase $MGMES tokens then select their favorite meme coin avatar, between Dogecoin, Pepe, DogWifHat, Brett and Turbo, and watch them race for a one-in-five chance to claim a 25% bonus on their initial purchase.
$MGMES is currently selling at a fixed presale price of $0.0094. In little more than a day, the price will rise to the final fixed tier of $0.00945 before the pre-sale ends.
Following the end of the presale, the token claim will drop next week, Tuesday 10 September, landing on decentralized exchanges (DEXs) that day.
This means today’s investors can purchase 10,000 $MGMES at just $94 and get ready for the high-volume post-DEX launch trading.
Participants can purchase $MGMES an unlimited number of times with no minimum purchase requirement to increase their chances of securing multiple 25% token bonuses.
The official project website and whitepaper encourage investors to stake tokens during the presale to take advantage of the tidy 462% APY on offer right now.
This figure decreases with the number of stakers, so participants will want to stake early and stake big to maximize yield. Notably, staking is only available on Ethereum.
Even though it’s only in presale, $MGMES is a more timely and rewarding investment than Shiba Inu tokens like $SHIB and $DOGE.
Follow The Meme Games on Twitter and Telegram.
Visit the official website.
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