Shiba Inu Coin Could Be Poised For Major SHIB Price Bounce – Here’s Why

Shiba Inu coin, one analyst thinks, is ready to fly. Even as eyes remain on SHIB price, investors are flocking to viral Meme Games presale.

There was a time when meme coins were considered a nuisance and spam in crypto. Gone are those days.

If anything, some of the top altcoins, including Dogecoin and Shiba Inu, are meme coins.

What’s more, if the valuation of meme coins were all rolled up and considered a token, they would be more valuable than XRP and way more liquid than USDC.

These metrics show that despite their weaknesses—mostly being taken as speculative assets—meme coins are not going anywhere anyway.

As Bitcoin recovers from last week’s pits, eyes have been on Shiba Inu. According to CoinMarketCap, SHIB, the native token, is ranked 13th and has a market cap of over $10 billion.

(SHIB – CMC)

At this valuation, it is better than Litecoin and some of the top DeFi protocols, such as Maker or Aave.

Is Shiba Inu Coin Ready To Surge By +350%?

One analyst recently took to X, claiming that the SHIBUSDT candlestick arrangement points to strength and that the token could rip higher in the days to come.

(Source)

Even though SHIB has been dropping, hammered by bears in the past few trading weeks, the token has formed a “macro Hidden Bullish Divergence” with the RSI, a technical indicator for gauging momentum in the higher time frame.

This means that SHIB is priming for major gains. According to the analyst, SHIB might rise by over 162%, possibly retesting $0.0000456 and $0.000081 for a 354% spike from current levels.

There will be several factors driving growth:

• Indeed, SHIB’s success will depend on how fast Ethereum recovers. If ETH rips above $4,000 as demand for spot ETFs soars this week, SHIB will massively benefit as a leading token in the Ethereum ecosystem.
• At the same time, Shiba Inu plans to launch a layer-2 platform with more tokens. The goal is to differentiate SHIB from other meme coins and attract more capital. If implemented, SHIB may surge to fresh 2024 highs in the coming weeks.

Is Meme Games A Better Alternative to Shiba Inu Coin?

While SHIB could rally, smart investors aim to gain even more from another meme coin gem: Meme Games.

The Meme Games presale is ongoing and has gained traction. It raised nearly $300,000 barely days after launching.

At spot rates, the MGMES token is available for just $0.0091, a massive discount for early adopters.

Attention is on the meme coin project, especially now during the Olympics, which began last week.

The Olympic spirit inspires Meme Games. Through the native token, MGMES, users can bet on competitions featuring popular memes like Pepe The Frog or Shiba.

If their favorite meme wins, they receive MGMES rewards.

Beyond the fun and competition, MGMES can be staked for an 802% APY–one of the highest across crypto. So far, over 12.6 million MGMES have been staked.

Once the token lists on mainstream exchanges in September, leading YouTube personalities think MGMES will at least 50X, rewarding early adopters.

BUY MEME GAMES

EXAMPLE: Lightning Labs Unveils Taproot Assets: Will It Cement Bitcoin As A Global Finance Leader?

See Also: What is Shiba Inu? SHIB Review

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.