The post New Utility Meme Coin Shiba Shootout Raises Over $600K in Presale – Next Crypto to Explode? appeared first on Coinpedia Fintech News
Shiba Shootout ($SHIBASHOOT), a new Shiba Inu-style meme coin, wasted no time getting started at presale, with its total raise surging past $600K.
It marks a significant milestone in the project’s journey toward listing on exchanges, an event experts believe could yield significant returns.
Analyst Says Shiba Shootout can 100x after its presale
There’s a ubiquitous buzz for Shiba Shootout as its presale starts to gain notice.
It started with Michael Wrubel, who tipped this project for 100x returns.
Wrubel began by highlighting Shiba Shootout’s relation to Shiba Inu, which provides a boon to its potential.
“Shiba Shootout mimics the success of Shiba Inu, which is a proven way to have a good project.”
He also underscored Shiba Shootout’s Wild West motif and inherent utilities as reasons it might explode.
Following Wrubel’s backing, other prominent industry players like the Cryptonews YouTube channel and Jacob Bury have also hailed Shiba Shootout as a high-potential meme coin.
Factoring in its $600K total raise, Shiba Shootout emerges as a force to be reckoned with.
$SHIBASHOOT is where cutting-edge utility meets memetics
Get ready for the ultimate crypto showdown!
Shiba Shootout embraces the Wild West nature of cryptocurrency, with its Shiba Inu mascots straddled up on horseback and equipped with holstered revolvers.
It’s a memetic extension of crypto’s frontier spirit.
There are different Shiba Inu-themed characters, digital settlements, and a town square ready for epic meme showdowns.
For those around last cycle, think of this as similar to Dogelonmars’ comic book-themed origin story. It’s an attention-getter and a theme for the project’s community to rally behind.
But realistically, it’s the project’s unprecedented utilities causing investors and analysts to scramble for this project.
Per its whitepaper, several utilities are at play, including a referral program called “Posse Rewards,” community story sessions where users can earn $SHIBASHOOT, token governance, a lottery system, and staking.
Notice how these utilities all lean toward rewarding community members. That’s the essence of meme coins and is a game-changer for Shiba Shootout’s potential.
The project’s staking feature is already live and offering a 1,600% APY. However, this will decrease as more tokens are staked.
As such, those looking to compound their Shiba Shootout investment must act quickly.
SHIB is outperforming its peers, so it’s the best time for Shiba Shootout to launch
Step aside, Dogecoin – meme coin fans are choosing Shiba Inu.
It’s a no-brainer, really.
With Dogecoin, you get a meme and a community.
But with Shiba Inu, you get a meme, a community, and a utility-packed ecosystem.
So, it’s no surprise that Shiba Inu is outperforming Dogecoin over multiple timescales.
For instance, this year, Dogecoin has risen in value by 64%, while Shiba Inu is up almost double that at 115%.
On a lower time frame, Dogecoin is up 8% this week, while Shiba Inu is up 19%.
And SHIB has even outperformed some of its lower market cap peers this week. For instance, Pepe is up 8%, Dogwifhat is up 1%, and Floki is up 9%.
Evidently, the market is backing Shiba Inu as a favourite in the meme coin arena.
That’s great for a new number like Shiba Shootout, which relates to Shiba Inu while presenting a more favourable juncture.
With a valuation magnitudes lower and staking rewards much higher, there’s a good chance that some Shiba Inu profits are reinvested into Shiba Shootout for bigger returns.
For perspective, while Shiba Shootout offers a 1,600% staking APY, Shiba Inu’s sits around 25%.
Shiba Inu soared over 4000x from March 2021 to October 2021 – and the figure becomes more absurd the further you zoom out.
With that in mind, predictions for 100x returns for its new protege, Shiba Shootout, do not seem impossible.
The project is quickly gathering a community, with over 3K members on Telegram and 1K followers on X.
It’s still early days for Shiba Shootout, but those seeking maximum value must act quickly.
That’s because the presale price will rise throughout the campaign, with the next increase in two days.