Shiba Inu might explode, here is why. Elon Musk's beloved memecoin seems to be back in the running after a violent crash. For the moment, its value remains low, if we compare it with its historical records. But a recent announcement from the developers makes all the difference. The latter has just announced the release of their game SHIB Eternity.
If you have trouble understanding all the interests of this announcement, we advise you to read this entire article! But SHIBA is not the only one getting noticed on the crypto scene. We will also introduce you to a new challenger in the world of memecoins.
SHIB Eternity gains first followers.
The team had promised to give the token greater utility and it seems to be coming to fruition. SHIB Eternity is a cool little game that helps give SHIBA real community power. Until then, crypto was nothing more than a speculative currency, with a cool concept, and was heavily boosted by Elon Musk at the time.
The token is starting to falter due to a lack of visibility into what the crypto can actually deliver. The release of the SHIB Eternity game also comes in response to increased competition from other cryptos, which are developing ever more innovative concepts.
If we look at the feedback from countries that have taken advantage of the game in advance, these are good. SHIB Eternity keeps all its promises and offers an enjoyable gaming experience. At the moment, feedback on the value of the token is mixed. But they should not delay the acquisition of more and more players and investors on SHIBA.
SHIBA price in euros over a 24-hour period - Source: CoinMarketCap
A whale leaned over the SHIBA token!
Shiba Inu also experienced a significant investment from a whale (a very large investor) recently. And not just any since it ranks 98th among the largest ETH holders. This investor will have purchased 3 billion tokens, amounting to $3,417,000 upon purchase. To top it off, the whale didn't just buy the token to sell it.
The SHIBA purchased seems to have been transferred to wallets intended for a long-term hold! In short, this is very good news for dogecoin. Not only does this show that big fish are bullish on the token, but it also increases the value of the token!
Burning SHIBA boosts troop morale.
The last element, was the burn of SHIBA strongly encouraged the morale of the holders of the token. This news showed that the team in charge of the SHIBA project gave its person to make tokens, an increasing value for the future.
The volume of tokens was a very big problem, because SHIBA had, until now, no system to burn its excess reserves. Now every new crypto memecoin has one because it keeps demand high and therefore prices high. Already more than 560 million tokens have been burned and the trend will continue.
Tamadoge becomes the 3rd biggest crypto memecoin and SHIBA competition.
Shiba Inu will have to face competition for this year 2023. Tamadoge is the new memecoin that has been making a lot of noise since July 2022.
This one is in the process of achieving a real masterstroke with listings on the CEX at all times. -goes and a team on the job at events. If there's one thing TAMA knows how to do, it's to keep the hype around the project constant.
It is rising among the biggest thanks to constant new listings, especially on LBank and MEXC, in terms of the trading volume. On this date, he reached the podium with 3rd place just behind Dogecoin and Shiba Inu.
TAMA falls after its listing on LBank and MEXC!
The listing on LBank and MEXC on October 5, 2022, will have created a lot of emotions. If some were expecting an exceptional rise in the price of TAMA, its effect will have been quite different. To realize the phenomenon, here is a graph of the value of TAMA over the past 24 hours.
TAMA price in euros over 24 hours - Source: CoinMarketCap
The crypto star of the moment went from a price of 0.18 euros to 0.06 at the low during this roller coaster of the markets linked to the listing. But then why is TAMA falling when better access to investors should give the opposite.
The fall of TAMA caused by whales?
This is arguably the most plausible explanation when looking at the price curve. A persistent adage in investing is to “buy the news and sell the exits”. With the announcement of major listings on CEXs like LBank and MEXC, it is highly likely that large investors wanted to take their profit when TAMA was at its highest just before the listing on the platforms.
This resulted in a substantial decline in the value of TAMA which saw its prices plummet in no time. A domino effect is thus created with a panic movement which is triggered, and which results in the massive sale of TAMA tokens by small investors panicked by the decline of the memecoin.
However, TAMA continues its frantic race for listings with a new candidate announced for today, BKEX!
Is TAMA over?
No. TAMA's recent price turmoil means nothing. Once the storm has passed, the token is likely to recover as quickly as it descended. TAMA is opening all doors with the recent announcement of the filing of the application to be listed on Binance!
In short, Tamadoge is still in its infancy, we will see in a few months, how one of the leaders of current memecoins will have evolved.
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