Dogecoin Price Stands at a Crossroads: 25% Loss or 55% Gain?
BitVerge – Dogecoin has outperformed Bitcoin and Ethereum over the past seven daysDogecoin (DOGE) is currently at a critical crossroads after failing to clear a critical resistance area recently, with the coin now trading below $0.10, down 9% from its all-time high of $0.1080 last Friday. Bears have taken the lead after the price failed to clear the resistance barrier formed by the 50-day moving average (50DMA) crossing the downtrend line from its March high. If Dogecoin manages to break through this resistance barrier and settle above it, it could quickly rally by 55% targeting the $0.15 level, but it has already failed to break this barrier as seen on its chart, indicating that the bears are still in control. So, its next destination could be a test of its August lows around $0.08, marking a 30% decline.
Dogecoin’s Prospects Look Down, Is This Altcoin a Better Option?
With Dogecoin currently in a bear market, owners may want to explore the potential of the promising meme coin Shiba Shootout (SHIBASHOOT) with its Shiba Inu logo and huge upside potential in the foreseeable future, the base currency for an exciting play-to-earn (P2E) game that combines Shiba Inu and Wild West themes; Shiba Shootout is currently available on Google (NASDAQ:GOOG) (Google Play) and Apple (NASDAQ:AAPL) (App Store).
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To ensure its continued growth, the Shiba Shootout project launched its native token SHIBASHOOT, which has been a huge success, raising over $1.1 million so far. This strong demand for the token comes as no surprise given that SHIBASHOOT and its future prospects have been praised by several crypto experts, most notably popular IPO analyst and YouTuber Jacob Crypto Bury, who believes that SHIBASHOOT, currently available for purchase at $0.0203, has at least a 10x upside potential. With a supply of 2.2 billion coins and 35% of it available for sale during the offering, investors can participate in a project with a modest initial market cap of around $44 million, with another 20% of its total supply allocated to distributing staking proceeds. This means that SHIBASHOOT is not only one of the most promising P2E gaming projects, but it is also a valuable opportunity to earn income without putting in any effort, especially since the Shiba Shootout website shows that IPO investors can stake SHIBASHOOT coins immediately to enjoy an impressive annual return of 842%, allowing early investors to double their SHIBASHOOT holdings in a matter of weeks.
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