The meme coin mania has returned. Crypto whales are stacking new meme coins, hunting for 10x to 100x returns.
For instance, a whale purchased $17.9k worth of Shitcoin (SHIT) and turned it into $263k.
Meanwhile, another new meme coin – Shiba Shootout (SHIBASHOOT) – is also creating quite a buzz, having already raised over $1 million in its presale funding. Some experts are calling it the next 100x crypto.
Shitcoin, Other New Meme Coins Explode
Shitcoin is quickly emerging as the new meme coin phenomenon and is even one of the top trending cryptocurrencies on CoinMarketCap.
The Solana meme coin raised $1.5 million in its presale, an impressive feat considering the broader market uncertainty.
The SHIT price corrected after its IEO, as is typical of presale cryptocurrencies. However, it has since skyrocketed by over 2700% and is looking poised for a strong bullish continuation. Indeed, Shitcoin rallied by over 56% today to hit a new all-time high of $0.0131.
SHIT isn’t the only new meme coin that is in high demand.
After all, experts remain confident the cryptocurrency market is on the cusp of a major bull run, despite its choppy price action over the previous weeks. In such a scenario, it makes sense why smart money investors are aggressively stacking new meme coins and low-cap gems – in search of the next 100x crypto.
This is especially true if the US Federal Reserve decides to surprise the market with a 50 basis point rate cut this month. Indeed, analysts from Citi believe that a 50 bps quantitative easing could be imminent, after the soft US Jolts job opening report.
In fact, the Bitcoin price bounced up nearly 4% to $58,000 following the weak jobs report, after trading as low as $55,600.
Furthermore, the crypto market could also start pricing in a Trump victory in the coming days. Indeed, Donald Trump keeps expanding his lead in Nate Silver’s presidential elections model, which now stands at 16 points.
Both these narratives – the Fed’s aggressive cuts and a Trump victory – could together pave the way for the next crypto bull run, while also kick-starting the meme coin mania.
Is Shiba Shootout The Next 100x Crypto?
Shitcoin is a purely value-less meme coin. Despite this, it has rallied by over 2700%.
It therefore stands to reason why experts are bullish on Shiba Shootout (SHIBASHOOT), a high-utility meme coin with a unique narrative.
Indeed, SHIBASHOOT has already raised over $1 million in its presale. It is extremely close to matching Shitcoin’s presale funding, with several stages still remaining.
As previously stated, the meme coin’s Wild-West theme is truly unique in the meme coin space. However, it is its cowboy-themed rewards that are creating a buzz on social media and in popular crypto outlets like Cointelegraph and CoinMarketCap.
For instance, Shiba Shootout has a native staking program – Cactus Staking – which is currently offering passive income at a reward rate of over 800%. The meme coin has saved 20% of its token supply just for the staking rewards.
Similarly, gamers can play the Shiba Sharpshooter game – which is available both on the App Store and Google Play – and earn free SHIBASHOOT tokens. 5% of the token supply – which pans out to $2.2 million just at the current presale price – is up for grabs.
Additionally, there are the refer-to-earn Posse Rewards, Lucky Lasso Lottery and Campfire Story Sessions.
With a plethora of monetary perks on offer, it is no surprise that experts are calling Shiba Shootout the next 100x crypto. Meme coins with much less value have shown much greater growth during a bull market euphoria.
