The market capitalization of Shiba Inu-SHIB, at $7.9 billion, has seen a decline of 5% in a week and 1.2% in a day, with SHIB trading at $0.00001333 at the time of writing.
LME investors are moving to sell some Sheba Inu (SHIB) coins to invest in new currencies that can compete with Dogecoin-DOGE and are still in the process of being subscribed.
The market capitalization of Chiba Inu of $7.9 billion fell 5% in a week and 1.2% overnight, with SHIB trading at $0.00001333 at the time of writing, and the price of DOGE fell 5.8% in a week and 3.4% in the past 24 hours to $0.1001.
The two MME industry leaders performed slightly better than the rest, with the prices of some of the top ten meme currencies by market capitalization falling by tens of percent this week: PEPE fell by 13.4%, DogWifHat (WIF) by 24.6%, BONK by 13.8%, BRETT by 20.4% and POPCAT by 30.3%.
Compared to the aforementioned ratios, the two cryptosector leaders performed slightly better, with Bitcoin-BTC down just 2.1% and Ethereum-ETH down 3.2%
Read also:A big obstacle facing Bitcoin as these small coins prepare to take off
Chiba Inu currency rate performance recently
The SHIB price chart shows it trading in the range of $0.000015 to $0.00002 for most of the summer before the significant decline in the crypto market, which plunged SHIB on August August 5 to $0.000011.
Source: TradingView A continuation of this downward price movement could test the price for a new support level at $0.00001, while the Relative Strength Index (RSI) of 53 suggests that bearish momentum may slow once the crypto market returns to growth.
But this positive scenario may take some time, as the market capitalization of the crypto sector has fallen by 2.8% in the last 24 hours to now reach $ 2.16 trillion, while the value of the meme currency sector reached $ 38.4 billion, a decrease of 2.4% in the same period.
Chiba Inu investors bet on the success of the PlayDoge coin IPO
DESPITE THE RECENT ADDITION OF NEW PRIVACY FEATURES TO SOLVE THE SECOND LAYER SHIBARIUM ON THE ETHEREUM BLOCKCHAIN, THE SHIB COMMUNITY HAS NOT YET SUCCEEDED IN FINDING A FEATURE THAT ENABLES IT TO OUTPERFORM DOGECOIN.
However, there is one project inspired by Chiba Inu dogs that has little competitor in the DeFi gaming industry, and that is PlayDoge (PLAY) that recreated the popular Tamagochi game with the addition of Play for Earning (P2E). The project’s core currency runs on several blockchain networks and is still in the IPO phase, which has so far raised $6.1 million since its mid-summer launch, meaning now is ideal for those looking to enter the project early.
The success of the ICOIN comes after it was supported by the recommendations of several cryptocurrency analysts on YouTube, including Clinix Crypto, 99Bitcoins, ClayBro and Matthew Perry.
On the other hand, good news is coming for fans of the portable digital pet game in the nineties, as PlayDoge will give them rewards in the form of digital currencies along with the opportunity to revive their childhood and own virtual pets again with exciting in-game adventures and minigames.
For those with bad memories of how hard Tamagochi is, don’t worry, as PlayDoge is more tolerant and offers a more immune pet than the tamaguchi animals that required a lot of care.
The PLAY coin was built on the Binance Smart Blockchain (BSC) – now called BNB Chain – which may facilitate its future inclusion on the Binance platform; the PLAY smart contract has been audited by SolidProof, so potential investors can rest assured of the security of the project.
What stock should you buy in your next trade?
The computing forces of artificial intelligence are changing the stock market. ProPicks from Investing.com are 6 winning stock portfolios chosen by our advanced AI. In 2024 alone, ProPicks’ AI identified two stocks that jumped more than 150%, 4 more that jumped more than 30%, and another 3 stocks that jumped more than 25%. What is the arrow with the next jump?
