Shiba Inu Goes To Zero As SHIB Price Drops 10% And This Lesser-Known Meme Coin Could Be The Next Crypto To Explode

Source: TradingView

He price of Shiba Inu (SHIB) it has fallen 1.5% in the past hour, paring gains the meme token had made as part of a market-wide rally this morning.

At $0.00000750, SHIB is up a modest 0.4% in 24 hours, with the altcoin down 4.5% in a fortnight and 6.6% in the last 30 days.

Even more concerning, SHIB is also down 7% since the start of the year, while many major tokens have rallied substantially, with Bitcoin (BTC) rising 85%.

This fall suggests that SHIB could be in the midst of terminal decline, with newer meme coins such as the Thug Life Token (THUG) generating considerably more excitement and interest at the moment.

Shiba Inu Goes To Zero As SHIB Price Drops 10% And This Lesser-Known Meme Coin Could Be The Next Crypto To Explode

SHIB’s slide in the past hour has left its price chart in a mixed and confusing position, with its Relative Strength Index (purple) resuming a decline towards 40, which is definitely more indicative of selling pressure (rather than buys).

Source: TradingView

At the same time, it appears that SHIB’s 30-day moving average (yellow) is about to dip below its 200-day moving average (blue), a move that would indicate further losses.

A small source of potential reassurance is the fact that the SHIB (green) support level has risen slightly since mid-June, suggesting that any further decline may not be too deep.

Still, things aren’t looking particularly good for SHIB, and one reason for this is that investors have grown tired of waiting for the arrival of Shibarium, its layer-two network.

As layer two, Shibarium is designed to make Shiba Inu transactions cheaper and faster, something that should help your ecosystem grow.

However, it has been in the testing phase for several months now, with its full release seeming to be delayed every month.

Frustration with such delays helps explain why SHIB has declined where many other coins have gained.

Such frustration has also led many investors to seek new sources of above-average profit, with a number of new meme tokens emerging this year to beat the market on several occasions.

One of the newest and most exciting is the Thug Life Token (THUG), an ERC-20 meme token that has allied itself with the gangsta rap and hip-hop communities.

It launched its pre-sale just over a week ago and has already raised $500,000, which is a sure sign that it’s making great progress in accumulating a significant community of headlines.

The Thug Life Token pre-sale will have only one stage and will end in just 11 days, giving interested investors only a limited time to get part of their supply.

Speaking of his offer, he will have a hard cap of 4.2 billion tokens, with 70% of this amount reserved for pre-sale.

This will ensure that THUG remains relatively decentralized compared to many other meme tokens, while also giving its community a large stake in its future that will help support its price.

New buyers can join the pre-sale by heading to the official Thug Life Token website and connecting their software wallets, with 1 THUG costing $0.0007.

Such a price could easily rise once THUG launches on exchanges, which is expected to happen by the end of the month.

Visit Thug Life Token now

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.