The Shiba Inu price has dived by 10% today, flopping to $0.00001662 as the crypto market as a whole takes a 6% hit in 24 hours.
These falls come in response to escalation in the Middle East, which has also pushed stocks down as well as cryptocurrencies.
But while the geopolitical and macroeconomic picture looks worse today, Shiba Inu’s fundamentals continue to go from strength to strength.
It has just celebrated the launch of Shiboshi Rush, another game within its ecosystem, and when combined with increasing token burns, its emergence makes future Shiba Inu price rallies look even likelier.
Shiba Inu Price Forecast: New Web3 Game ‘Shiboshi Rush’ Launches – Will SHIB Rally?
Details on Shiboshi Rush are relatively sparse, with the closest thing to an official announcement being an X post from SHIB.io marketer Lucie.
Based on her description, Shiboshi Rush appears to be some kind of strategy game, with players tasked with assembling an army of Shiba Inu dogs and defeating enemy castles.
Lucie did share a Google Play link for the Android version of the game, but this link now appears to be broken, while searching manually for the game on Google Play yields no results.
As such, it seems to have had a somewhat botched launch, although perhaps we’ll see the game go live in a few days.
If so, its arrival underlines Shiba Inu’s growing status as a thriving ecosystem for Web3 games and media, strengthening its fundamentals.
The past few weeks have also witnessed a strengthening of SHIB’s tokenomics, with its burn rate increasing in the wake of a Shibarium update.
This is why the Shiba Inu price is still up by 12% in a week and by 27% in a fortnight, despite last night’s haircut.
And as the chart below shows, it could resume rising again very soon.
Source: TradingViewIts relative strength index (purple) fell close to 20 overnight, reaching a strongly oversold position that should attract new buyers looking for a discount.
Likewise, the alt’s 30-period average (orange) dropped below its 200-period average (blue) yesterday, and it’s nearing a bottom that should precede a recovery.
SHIB’s technical position therefore looks pretty good, as does its fundamental position.
We can therefore expect the Shiba Inu price to return to $0.000020 in the next few weeks, before ending the year at $0.00005.
New Alts with Fundamentals Also Show Strong Potential Upside
In addition to SHIB, traders looking for greater exposure to potential upside should probably consider smaller cap alts as well.
This could include presale coins, which can often generate lots of momentum prior to their listings.
One coin doing just this is Memebet Token (MEMEBET), an ERC-20 crypto that has raised $350,000 after launching its sale a couple of weeks ago.
Memebet is about to launch an online crypto-friendly casino with its own native MEMEBET token, which enables users to earn greater rewards by using it to place bets.
Its casino platform will provide over 1,000 crypto-native games to play, as well as a very big sportsbook.
While wagering with MEMEBET will earn players greater rewards, they will also be able to deposit and withdraw using established tokens such as Pepe, Dogecoin, Bonk and Shiba Inu.
Memebet will have two main channels: a regular web-based casino and a KYC-free platform on Telegram.
The latter should therefore open its ecosystem up to a greater pool of users, potentially pushing demand for MEMEBET up over time.
Investors can join its sale by going to the official Memebet Token website and connecting their wallets.
1 MEMEBET currently costs $0.0255, with this price rising by $0.001 with every new stage of the sale.
With a growing community (its X account now having over 13,000 followers), Memebet has every chance of being one of the biggest new tokens of the year when it lists.
Buy MEMEBET now
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