It’s been an eventful week for DOGS (DOGS) holders.
After the excitement of landing a Binance listing, the coin’s price has taken a nosedive, leaving investors scratching their heads.
Some investors are already searching around for the next big thing.
And with Shiba Shootout’s (SHIBASHOOT) ICO going viral, many believe it could be the next meme coin to explode.
The Rise & Fall of the DOGS Meme Coin
DOGS has been one of the most talked-about meme coins in recent weeks.
Inspired by Telegram founder Pavel Durov’s sketch of a dog named Spotty, the coin generated lots of buzz, especially after its massive airdrop that had Telegram users rushing to claim their share.
Built on The Open Network (TON) blockchain, DOGS initially brought more than just hype to the table.
And Binance ultimately took notice.
DOGS’ Binance listing on August 26th sent the coin’s price soaring, jumping from $0.0011 that day to a high of $0.0016.
For a brief period, many believed DOGS would continue rallying.
However, its bullish momentum didn’t last.
The coin’s price has dropped by 34% in the last seven days, and is now hovering around $0.0010.
Its market cap has shrunk to $560 million as a result.
Although spot volumes remain elevated, up at $480 million since yesterday, DOGS has lost its initial steam – leaving investors wondering if the hype is over.
Crypto Market Goes Through Turbulent Period as BTC Drops Below $60K
It’s not just DOGS going through a rough patch.
The entire crypto market is facing some turbulence.
Its total value has fallen to $2 trillion, which is a key psychological level for many investors.
Bitcoin, the OG crypto, has also seen its fair share of volatility.
It dropped below $60,000 last week, and some analysts predict it could fall as low as $54,000 – or even lower.
Bitcoin’s decline is partly due to a sell-off in traditional markets, which has started to affect crypto as well.
Even spot Bitcoin ETFs, a hot topic earlier this year, have seen outflows for five consecutive days.
This is a concerning trend.
And to top it all off, September has historically been a challenging month for the crypto market, adding even more uncertainty.
So, DOGS isn’t alone in its struggles.
The whole market is shaky right now – and there doesn’t seem to be a clear path to recovery in the near future.
New Meme Coin Shiba Shootout Raises $1M & Attracts Investors with P2E Game
But it’s not all doom and gloom for investors.
Some are already eyeing their next move with a brand-new meme coin called Shiba Shootout.
This project is generating immense buzz, combining the “Doge” meme with a Western theme.
So, what’s the draw?
It’s all about Shiba Shootout’s Play-to-Earn (P2E) mobile game, Shiba Sharpshooter, which allows players to earn SHIBASHOOT tokens as rewards.
In addition, the team is offering eye-catching staking rewards, set at 873% per year.
And there’s more, since Shiba Shootout has a whole ecosystem built around its Wild-West aesthetic.
Features like the Lucky Lasso Lottery and Posse Rewards help it stand out from its meme coin peers.
Shiba Shootout’s ICO has now raised over $1 million, with SHIBASHOOT tokens on offer for just $0.0201 each.
Some members of the project’s Telegram community believe this price will soar once SHIBASHOOT lists on a DEX.
YouTuber ClayBro even speculated the token could land a Binance listing.
For those looking to move on from their DOGS investment, Shiba Shootout could be an interesting new option.
