Shiba Inu Coin holders switch to new crypto ICO, aiming for 1000% gain
Popular ERC-20 meme coin Shiba Inucoin ($SHIB) outperformed Bitcoin, Ethereum and top meme coin Dogecoin, becoming one of the best digital asset investments in 2024.
The current price of Shiba Inu coin is $0.00002547, which has increased by 200% compared to the same period last year.
By comparison, Bitcoin ($BTC), the worldâs most popular cryptocurrency, is up 158%, Ethereum ($ETH) is up 115% for the year, and Shiba Inu Coinâs main competitor, OG Doge Meme Coin Doge Coin ($DOGE) has grown by 137.5% in the past 365 days.
However, the coinâs performance over the past three months shows that it is facing increasing resistance (indicated by the red trend line) even as its support levels (green trend line) are increasing. The data shows that the price of $SHIB has been relatively stable over the past month, remaining slightly above its 30-day moving average (the blue line on the chart).
The relative strength index (RSI) is hovering in the high 60s, and Shiba Inu Coin is approaching overbought territory (70 is the critical value). The latest buying surge may have been driven by news last week of the U.S. Securities and Exchange Commission (SEC) approving an Ethereum ($ETH) exchange-traded fund (ETF), which is the backbone of Shiba Inu Coinâs native blockchain Currency.
Mega Diceâs $DICE Attracts Shiba Inu Coin Holders
The Shiba Inu Coin team realizes that in a future where cryptocurrencies become a generally accepted means of payment and store of value, only a few meme coins will survive. So earlier this year, the team announced it was raising $12 million for a privacy-focused layer 3 blockchain.
Still, in the interest of portfolio diversification, there are a number of new projects, some of which are still in the pre-sale stage, hinting at a bright future for cryptocurrencies beyond payments and stored value.
GambleFi is such an area.
According to Statista, online gaming is likely to generate $100.9 billion in revenue this year. The new generation of tokens serve as both gaming chips and loyalty cards.
The ICO for Solana GameFi token Mega Dice ($DICE) began in mid-April and has already attracted more than $1.2 million in investment, according to website data.
Mega Dice launched last year as the worldâs first licensed crypto casino accessible via the popular messaging app Telegram.
Since then, more than 50,000 players have signed up, helping the casino become a well-known name in the GambleFi space.
Casino customers who play with the token will receive additional ongoing benefits as the casino plans to integrate it into its loyalty program, offering more generous rewards to players who use the token.
The token will also unlock exclusive tournaments and VIP experiences.
Finally, Mega Dice said it will launch a buyback and destruction program. This means that casinos will periodically purchase some tokens and remove them from circulation to maintain their scarcity, helping to increase their value.
Follow Mega Dice news on X/Twitter and Telegram.
Join the pre-sale now on the Mega Dice website: https://cn.cryptonews.com/ext/mega-dice-cn/
Original text: https://cn.cryptonews.com/news/shiba-inu-holders-pivot-to-new-ico-aiming-for-1000-gains.htm
