It’s been a dramatic few days within the meme coin market.

Shiba Inu (SHIB) has plunged following a large hack on the Indian crypto alternate WazirX.

Nonetheless, as one Shiba stumbles, one other is rising.

Shiba Shootout (SHIBASHOOT) is gaining traction in its limited-time presale section – and is quick approaching the $700,000 milestone.

Shiba Inu Value Plunges After WazirX Hack

Shiba Inu is taking a beating proper now.

The coin’s price has nosedived to $0.0000172, an 8% drop from yesterday and 14% from Tuesday’s native excessive.

Shiba Inu’s technicals aren’t wanting nice both.

SHIB dropped under the 50-period exponential transferring common (EMA) on the 4-hour chart, suggesting the pattern may need flipped bearish.

However surprisingly, regardless of the price drop, SHIB’s spot buying and selling volumes are up 206%.

This makes SHIB the ninth most traded crypto on this planet.

So, what’s behind the coin’s sudden downturn?

All of it appears linked to a serious hack at WazirX, an Indian crypto alternate.

The hackers made off with round $230 million in buyer funds, together with a large $100 million price of SHIB.

And the attackers are reportedly offloading their SHIB holdings, placing downward strain on the coin’s price.

Compounding issues, different Shiba Inu buyers at the moment are panic promoting.

It’s a destructive suggestions loop that appears more likely to trigger additional declines.

Wild West Meme Coin Shiba Shootout Nears $700K in Presale

Though Shiba Inu has been taking successful, one other dog-themed coin stays within the inexperienced.

Shiba Shootout is closing in on the $700,000 milestone in its presale section – and the thrill round it’s getting louder by the day.

Proper now, buyers can snag SHIBASHOOT tokens for simply $0.0196 every.

Nonetheless, since Shiba Shootout’s presale is being performed in levels, this price will bounce once more in lower than 5 days.

Would-be buyers can use ETH, USDT, BNB, or credit score/debit card to become involved.

In line with Shiba Shootout’s whitepaper, 35% of the availability (770 million tokens) is up for grabs through the presale.

And as soon as the presale is wrapped up, the builders plan to launch SHIBASHOOT on a DEX.

An extra 220 million tokens have been put aside to offer liquidity for this DEX launch.

The hype is already rising concerning Shiba Shootout’s prospects.

Over 3,600 persons are lively within the challenge’s Telegram channel, and the official Twitter account can be multiplying.

It appears buyers are searching for a brand new Shiba to again – particularly given Shiba Inu’s latest troubles.

P2E Sport & Cactus Staking Protocol Spherical Out Shiba Shootout’s Ecosystem

At Shiba Shootout’s core is a Play-to-Earn (P2E) recreation bringing some cowboy aptitude to the meme coin market.

This recreation, Shiba Sharpshooter, is already reside on Google Play and the App Retailer.

Gamers can duke it out in gun battles, aiming to turn into the highest canine in Shiba Gulch.

And sure – gamers can earn SHIBASHOOT tokens as soon as the total model has formally launched.

However there’s extra to Shiba Shootout’s ecosystem than simply this recreation.

The crew has packed in extra options like “Campfire Stories” for sharing crypto tales and “Governance Roundups,” the place token holders vote on selections.

There’s even a “Lucky Lasso Lottery” for these feeling fortunate.

Underpinning all of it is a “Cactus Staking” program for SHIBASHOOT.

On this program, SHIBASHOOT holders can obtain estimated annual yields of 1,450% by locking up their tokens.

It’s a good way to earn extra earnings whereas taking part in the Shiba Sharpshooter recreation.

Unsurprisingly, this ecosystem is piquing the curiosity of some high influencers.

YouTuber ClayBro talked about SHIBASHOOT in a video launched earlier this week, which has been considered virtually 5,000 occasions.

So, with the hype choosing up and the presale hitting new milestones, Shiba Shootout may simply be the subsequent meme coin on the rise.

Go to Shiba Shootout Presale