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As the price of Shiba Inu (SHIB) declines at the beginning of August, a promising new competitor has just reached $860,000 in a rapidly growing presale.
On Friday, SHIB fell by 5%, marking its lowest point since early June, around $0.000015.
This price drop follows disappointing US jobs data that unsettled global markets and heightened recession concerns.
Chart analysts indicate that SHIB’s short-term outlook appears quite pessimistic.
The meme coin encountered significant resistance at its 50 and 200DMAs in mid-July.
This indicated that bearish sentiment was dominating the market.
A near-term retest of support in the $0.000012 range seems very probable.
SHIBUSD / Source: TradingView
While Shiba Inu experiences a downturn, an intriguing new competitor named Shiba Shootout (SHIBASHOOT) emerges.
New Rival Coin Shiba Shootout (SHIBASHOOT) – A P2E and Passive Income Opportunity
Shiba Shootout is a Wild West-themed play-to-earn (P2E) meme coin.
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Its P2E game has received approval for both Google Play and the Apple App Store, with its launch approaching.
To support its ongoing development and marketing efforts, Shiba Shootout is conducting a presale of its native SHIBASHOOT token.
Investor interest is robust, with over $860,000 already raised for the new competitor.
BOOM!!!
Another significant milestone for #SHIBASHOOT
We have successfully raised over $800,000!
The enthusiasm surrounding #SHIBASHOOT continues to grow, stay tuned for further updates!
pic.twitter.com/l6hZyaHhjk
— shibashootout (@shibashootout) July 29, 2024
35% of the SHIBASHOOT token supply is available during the presale.
Additionally, 20% has been allocated for staking rewards.
Indeed, SHIBASHOOT is not only among the most promising P2E projects currently available, but it also represents a passive income opportunity.
Investors in the presale can immediately stake their tokens for yields around 1,200% APY, according to the official website.
At these rates, a presale investor could potentially double their SHIBASHOOT holdings in just a few weeks.
Crypto Experts Rally to Support Shiba Shootout
The surge in interest from investors to acquire SHIBASHOOT tokens coincides with endorsements from several crypto influencers.
In a recent video, Michael Wrubel informed his 312,000 YouTube subscribers that he believes he has discovered the next 100x Shiba Inu opportunity.
ClayBro shared with his 130,000 YouTube subscribers that the game could create millionaires.
Austin Hilton also praised the new competitor to his 272,000 subscribers.
Analysts at Cryptonews.com are also strong advocates for the token, ranking it among their top presales to consider now.
Those interested in further details about the new competitor should visit its official website.
Potential investors should act quickly, as the price will increase in less than one day.
1 day left before the next price increase!
1 $SHIBASHOOT = $0.0197
Join Shiba ShootOut Token! Stake, win, and enjoy Wild West fun!
Don’t miss out. Buy $SHIBASHOOT https://t.co/OmlNvMLbUw pic.twitter.com/AswaQJBiVk
— shibashootout (@shibashootout) August 2, 2024
Join Shiba ShootOut Token! Stake, win, and enjoy Wild West fun! 
Visit Shiba Shootout Now
The post Shiba Inu Price Nosedives While Hot New Rival Coin Secures $860,000 appeared first on Cryptonews.
