Meme coin investors are selling some of their Shiba Inu ($SHIB) as new opportunities emerge to buy potential Dogecoin ($DOGE) killers that are still only in presale.
The $7.9 billion market cap $SHIB shed 5% over the week and 1.2% overnight to trade at $0.00001333 at the time of writing.
Original meme coin Dogecoin shed 5.8% over the seven days and 3.4% over the last 24 hours to hit $0.1001.
The two sector leaders held the fort a bit better than their peers. Among the top ten biggest meme coins by market cap, several dropped by double-digit percentages this week.
Pepe ($PEPE) fell 13.4%, DogWifHat ($WIF) tumbled 24.6%, Bonk ($BONK) dropped 13.8%, Brett ($BRETT) spiraled 20.4%, and Popcat ($POPCAT) nosedived 30.3%.
By contrast, market leader Bitcoin ($BTC) only fell 2.1% and Ethereum ($ETH) dropped 3.2%.
Shiba Inu’s Recent Price Performance
Over on Shiba Inu’s price chart, we can see $SHIB traded between $0.000015 and $0.00002 for most of the summer, before the crypto crash on August 5 dragged the price down as low as $0.000011.
Source: TradingViewThis means any further downward price action could send $SHIB down to a new support level of $0.00001. A relative strength index (RSI) of 53 indicates that falling momentum is likely to drop off once the wider market is back in the green.
However, that may take time. At the time of writing, crypto markets shed 2.8% in the last 24 hours and now command a $2.16 trillion market cap. The meme coin sector lost 2.4% and currently capitalizes $38.4 billion in the market.
$SHIB Investors Bet on PlayDoge Presale
Despite recently adding new privacy features and going all in on Shiba Inu’s proprietary Ethereum layer 2 SHIBARIUM, the $SHIB community still hasn’t found an edge on the stalwart Dogecoin.
However, one Shiba Inu-themed project with no clear competitors in the burgeoning sector of DeFi gaming is multichain Play-to-Earn (P2E) tamagotchi remake PlayDoge ($PLAY).
It is still only in presale, and the ICO has already amassed $6.1 million in investments since launching mid-summer.
This means it’s still the perfect time to buy in for investors who want to get in from the start.
The feverish buying comes off the back of recommendations by several YouTube crypto analysts, including Clinix Crypto, 99Bitcoins, ClayBro, and Matthew Perry.
Fans of the 90s handheld digital pets will delight to see how PlayDoge gives incentivizes them with crypto to rekindle their childhood and become attentive virtual pet owners again, with exciting in-game adventures and mini-games.
And those that have bad memories of Tamagotchi the first time around need not fear: the difficulty curve on PlayDoge is a more forgiving, making him a more resilient pet than the high-maintenance Tamagotchis you probably remember.
$PLAY’s home chain is the Binance Smart Chain, now called BNB Chain. This could significantly facilitate a potential future Binance listing.
Moreover, SolidProof audited Playdoge’s smart contract, giving prospective investors peace of mind about the project’s security.
Joining the presale is easy: connect your wallet and start purchasing $PLAY using BNB, ETH, or USDT. PlayDoge also offers the option to use credit cards.
To keep up with the latest information about the project, you can connect with the community via X and Telegram.
Visit the PlayDoge website to buy in at presale prices now.
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