Dogecoin, the original meme coin, recently caused a stir in the crypto market after seeing a 35% surge in large transactions. This indicates that crypto whales are getting more involved with the token, and it might signal the arrival of stronger price swings in the near future.
https://x.com/miro_miza/status/1803787179845726522
Dogecoin price drops despite increased whale activity
As of August 19, Dogecoin is the 9th largest crypto by market cap, and the largest meme coin. Its price currently sits at $0.0997, after seeing a 4% price drop in the last 24 hours. The coin used to be at $0.1042 earlier today, which led to speculations that it could push further up toward a resistance.
Experts predicted that a push up could trigger the liquidation of $322k worth of Dogecoin, and the start of a new buying wave. However, the meme coin market started seeing a price drop, and while there are many coins in the crypto industry that still trade in the green as of the time of writing, their prices are starting to correct, and it is likely only a matter of time before the entire crypto sector starts trading in the red.
Still, the major increase in large transactions that was noticed lately suggests that the whales are on the move, and that could still mean that the buyers might return as soon as the bulls get their chance to take over.
In the meantime, traders and investors who are not willing to take on major risks should consider alternative investment options, such as buying tokens like Shiba Shootout (SHIBASHOOT).
BUY $SHIBASHOOT IN PRESALE — THE BEST ALTERNATIVE TO DOGECOIN
What is Shiba Shootout?
Shiba Shootout is one of the newest meme coin presales. It is a project inspired by Shiba Inu, and it uses its likeness, but it added its own unique twist to the meme by placing the legendary dog into the Wild West setting.
This is where the project’s P2E game comes into the picture, as it allows players to engage in sharpshooter duels of the Wild West. The game takes place in the fictional town of Shiba Gulch, and it introduces characters like Shiba Sharpshooters and Marshal Shiba.
The game is already out and available for free on Android and iOS devices, but the Web3 update that will enable users to earn tokens for winning the duels has not yet arrived. It will likely come soon after the end of the project’s ICO, when the SHIBASHOOT token enters circulation.
BUY SHIBASHOOT BEFORE ITS PRICE GOES UP
Speaking of the project’s ICO, it managed to raise over $982k as of August 19, and it is only a few thousand dollars away from its first million, which will be its largest milestone yet. Many assume that the whales might make their move at this point too, especially because SHIBASHOOT’s price is still extremely low, sitting at only $0.0199.
Anyone interested in buying the token now, while DOGE and the other established meme coins struggle with volatility, can buy it with ETH, BNB, USDT, or credit/debit cards. Just don’t wait too long to do so, as the project will see its next scheduled price increase in less than four days.
