The meme coin market is ending the week with a bang after several days of bullish gains. The leading meme coins by market cap, Dogecoin and Shiba Inu, are up 4.4% and 1.9% respectively in the past 24 hours. In the past week, the meme coin market has added more than $4 billion in market value.
The surge in meme coin trading has driven traders into new meme coins in search of explosive gains as the market rises. One new ICO, Shiba Shootout, has benefited from a rush of investment and is being singled out as the next token to 10x after launch.
Dogecoin Erases Losses as Traders Predict Next Mega-Cycle
While trading activity this week has been good for the meme coin market as a whole, few coins have benefited more than Dogecoin.
Heading into the week, $DOGE was down more than 20% from its August high and trading volume had fallen below $400 million. Now, $DOGE has come roaring back with a 7-day gain of 13.5% and trading volume that peaked over $800 million.
$DOGE now trades at $0.107, well off the high of $0.220 it reached during the meme coin frenzy in March this year. However, traders eyeing the Dogecoin chart think this week’s reversal could be the beginning of the next 3-year mega-cycle in $DOGE.
One trader, looking at long-term support and resistance lines and trends in $DOGE’s bottom price over the past 3 years, pointed to a price around $0.101 as the take-off point for the next explosive bull move.
They even predicted back in early August that the move could start in mid-September, a forecast that now looks incredibly prescient.
Another analyst, @TATrader_Alan on X, highlighted the fact that $DOGE’s price chart has formed an inverse head and shoulders pattern—like the one that’s completing now—right before delivering massive bull moves during the past two mega-cycles.
Based on how high $DOGE jumped in 2020-2021, his analysis suggests that $DOGE could rocket to a price over $3.70 by the end of this cycle.
These predictions coincide with bullish activity and predictions around Bitcoin, suggesting that the crypto market as a whole could be gearing up for a massive run in 2025.
Shiba Shootout Raises $1.1M for Wild West P2E Game
The renewed excitement around meme coins has many traders looking for even bigger opportunities than what established tokens like $DOGE and $SHIB can offer.
And they’re finding the biggest opportunity of all in Shiba Shootout, a new play-to-earn game and meme coin that puts players in the heart of the Western frontier.
In Shiba Shootout, players can compete in six-shooter duels or share stories about their experiences in crypto around the virtual campfire to earn $SHIBASHOOT tokens. The game also offers lotteries, airdrop giveaways, and more.
$SHIBASHOOT token holders can use their coins to participate in governance of Shiba Shootout’s digital frontier town, Shiba Gulch. In addition, Shiba Shootout offers eye-popping staking rewards for its community members—up to 851% APY during the presale.
Unlike most other crypto presales, Shiba Shootout has already made its Shiba Sharpshooter P2E game available to players. It’s available for download now from the Apple App Store and Google Play, and players can start earning $SHIBASHOOT even before the token launches.
Meme coin analysts are hot on $SHIBASHOOT, predicting it could be the next meme coin to shoot for the moon. Crypto Nautic told his followers that they can’t afford to miss this presale, while ClayBro predicted that Shiba Shootout could mint millionaires.
The Shiba Shootout presale has raised more than $1.1 million already, with a significant portion of that coming this week after the meme coin market jumped.
The next price increase is just 2 days away, so there’s no time to waste to lock in the best price for $SHIBASHOOT tokens.
