Shiba Inu is currently striving to bounce back from the recent price drop, aiming to draw benefit from the recent 4.29 trillion SHIB whale volume spike.

With bearish pressure slowing down, several crypto assets seek avenues for recovery. Shiba Inu observes an impressive increase in whale transactions across the board. Interestingly, this spike in whale transactions coincides with a rapid surge in large buys.

On July 6, Shiba Inu saw transactions worth at least $100,000 rise to a daily high of 4.29 trillion SHIB, the largest in nearly two weeks. We see whales actively buying while the Fear & Greed Index currently signals fear.

It’s often said that one should buy when there’s blood on the streets. The whales understand this principle; they buy when others are fearful and are likely to be fearful when others are greedy. Retail investors need to approach this logically.

Currently, investors fear the Mt. Gox situation and Germany selling Bitcoin, with Germany recently selling a record amount in a single day. Interestingly, despite this, Bitcoin closed higher, showing strong market absorption. This market will recover.

The current fear will eventually turn into greed, and those hesitant to buy now may miss out. Retail investors, not whales, often fail to recognize these opportunities.

When recovery comes, Shiba Inu could see significant gains, potentially 2x, 3x, 4x, or even 5x over the next few months. Smaller market cap tokens like Shiba Shootout could see substantial gains, potentially 20x, 30x, or even 50x during a bull market peak.

Shiba Shootout raises over $600k – Next big meme coin?

After the prices of some leading meme coins dropped, investors started searching for high-potential projects. Many discovered Shiba Shootout, which its community believes could be a 100x meme coin gem still in its presale phase.

The new project has quickly built a large community and has raised over $600k in the early stages of its presale, causing it to trend on several social media channels. With its rapid success and Wild West theme, investors wonder if $SHIBASHOOT could follow in Shiba Inu’s footsteps.

Source – Shiba Shootout Twitter

Since it is still in the presale phase, investors can buy the token at the low price of $0.0195 per token. They can purchase the token using ETH, BNB, or USDT, and card payments are also supported, allowing a wider audience to acquire the token before it launches on exchanges.

After the ICO concludes, the team plans to launch on exchanges, likely starting with a DEX launch. Shiba Shootout shows significant growth potential with an ambitious roadmap and a team actively engaging with its community.

The team has already had Shiba Shootout’s smart contracts audited by SolidProof, a step many established meme coins haven’t taken. A smart contract audit thoroughly examines the project’s code for vulnerabilities and issues.

This commitment to security and transparency, combined with unique features, has generated significant buzz on social media.

Shiba Shootout cowboy-inspired utility features

The project has gained attention by focusing on providing value to user investments through utility features. For example, the Token Governance Roundups allow token holders to participate in regular voting sessions on key project decisions, ensuring a decentralized governance system reminiscent of a Wild West town.

The Posse Rewards program incentivizes community growth by rewarding both referrers and new members with bonus tokens.

The project promotes community engagement with Campfire Stories, where members share their experiences with crypto and meme coins, earning token rewards for the most entertaining stories. These are just a few examples of the various utility features the project has introduced.

The Lucky Lasso Lotteries feature allows participants to purchase tickets using Shiba Shootout tokens for a chance to win significant crypto prizes, with a portion of the proceeds supporting charitable initiatives.

Savings Saddlebags encourages financial discipline and long-term holding by enabling users to automatically allocate a percentage of their tokens to a dedicated wallet, where they earn additional tokens as rewards.

Additionally, the project offers Cactus Staking, allowing investors to stake their tokens. Given its early phase, it offers an impressive APY rate of more than 1600%.

For more information about the project, stay updated by following Shiba Shootout’s social media channels on Telegram and X.

To take part in the $SHIBASHOOT token presale, visit shibashootout.com.

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The post Shiba Inu’s Whale Activity Signals Potential Price Recovery – Will the Newest Meme Coin SHIBASHOOT Follow SHIB’s Success? appeared first on ReadWrite.