Shiba Inu Price Prediction is Bearish, But These Two Meme Coins Could Explode
Shiba Inu was originally cast as the ‘Doge Killer’ when it launched in 2020. The meme coin exploded more than 1,100% in 2021, cementing its place as one of the top meme coins on the market.
However, Shiba Inu was hit hard by the crypto winter. It’s fallen 90% from its peak and has continued to slide in recent weeks.
We’ll take a closer look at what the future might hold for Shiba Inu to help investors decide if it’s worth including in their portfolios. We’ll also highlight two new meme coins that could be next to explode.
Shiba Inu Breaks Down into Uncharted Territory
The price of $SHIB has hovered between $0.0000080 and $0.000015 for much of the past year. Importantly, the $0.0000080 price level has served as a floor for the token’s price. $SHIB bounced off this level in June and December 2022.
In the past week, however, $SHIB broke cleanly below $0.0000080, falling to a low of $0.0000060. Now, the token is fighting to regain the $0.0000080 level—and it appears to be failing.
After breaking back above $0.0000080 briefly, $SHIB fell again. The $0.0000080 level now looks like an area of technical resistance rather than support.
So, where does $SHIB go from here? The token is entering uncharted territory. It has not been below $0.0000080 since 2021, just before the token exploded more than 1,100%. There are no established support levels for $SHIB below this price.
That could be extremely bad news for Shiba Inu supporters. In a best-case scenario, the token could find support at $0.0000060—a 25% decline from today’s price. In a worst-case scenario, $SHIB could fall all the way to $0.0000010 or less.
It’s hard to see how $SHIB could recover from such a decline. Matthew Harry, an analyst at DigitalX Asset Management, has argued that $SHIB will go to zero within the next few years as hype dies down and support for the meme coin fades.
Another respected analyst, Dimitrios Salampasis, made much the same argument. He takes a pessimistic view of meme coins in general and believes that most of them will eventually die out as capital flows to coins with real utility.
Thug Life Offers Chance to Get in Early on Exciting New Meme Coin
While the popularity of Shiba Inu is fading, a number of new meme coins are making waves among the crypto community.
One of the most promising is Thug Life, a brand-new meme coin that encourages investors to “thug up.” Thug Life offers hilarious memes and a sense of community for anyone who was left holding the bag on earlier crypto projects.
The project just launched its presale with the goal of raising $2,058,000 from its $THUG token. The presale is open to anyone and is releasing 70% of the total $THUG supply. The remaining tokens are set aside for marketing and community rewards.
Thug Life plans to list on DEXs initially to ensure that everyone has equal access to buy and sell $THUG. The project’s liquidity pool will be locked for 3 months from launch.
During the presale, investors can buy $THUG at a price of $0.0007. There’s no minimum or maximum purchase during the presale.
There’s only one stage to the presale, so investors have to jump in before it’s too late.
Wall Street Memes Raises $11 Million in Less Than a Month - Next Big Meme Token?
Wall Street Memes is another meme coin investors won’t want to miss. The project has already raised $11 million through a presale of its $WSM token and is well on the way to an ICO.
Wall Street Memes is designed to make fun of Wall Street’s greed, corruption, and group-think while bringing the crypto community closer together. It combines the ethos of r/WallStreetBets with the fun and frivolity of meme projects.
The token is built to go viral, with the ultimate goal of reaching a $1 billion market cap. That doesn’t seem all that far-fetched considering that even Elon Musk has weighed in on Wall Street Memes on Twitter. Musk’s involvement was central to the success of Dogecoin, which today has a $9 billion market cap.
Wall Street Memes also has a strong team behind it. The same developers created the Wall Street Bulls NFT collection in 2021, which sold out in just over 30 minutes.
Investors have a chance to buy $WSM tokens at a 10% discount during the current stage of the Wall Street Memes presale. The stage is selling out quickly, though, so investors need to act fast.
The presale has a hard cap of $30,577,000 and plans to launch $WSM at a price of $0.0337.
