Brett’s Decline Continues
Brett (BRETT) holders are in panic mode and abandoning the meme coin after another significant price drop on Friday. Many are turning to a new meme coin in the play-to-earn niche, Shiba Shootout (SHIBASHOOT).
Weekly Losses Surge
On Friday, Brett dropped another 11%, bringing its weekly losses to over 25% amid a broader market decline. The Base meme coin was last trading around $0.1160, hitting new one-month lows.
Market Cap at Risk
Currently, Brett’s market cap remains above $1 billion. However, after losing support at $0.12, further losses are anticipated. Bears are eyeing a retest of the April/May highs in the $0.85 area.
Market Sentiment and Sell Pressure
The likelihood of further downside is causing Brett holders to exit the token. Although crypto markets might improve later this year with potential Fed rate cuts and the upcoming US election, sentiment is currently dampened by high spot sell pressures in Bitcoin. Continued miner and German government selling is contributing to this pressure. Additionally, Mt. Gox creditors are receiving repayments this month, which may add to the sell pressure.
Turning to Alternatives
In such an environment, traders often seek alternatives for quicker returns. New meme coins, despite being risky, have a track record of delivering quick gains. One new meme coin gaining attention is Shiba Shootout.
Shiba Shootout: The New Meme Coin to Watch
Introduction to Shiba Shootout
Shiba Shootout is a Wild West-themed play-to-earn (P2E) game. The game has been approved on Google Play and the Apple App Store, with its release imminent. The game will be powered by the SHIBASHOOT token, currently available in presale.
Presale Success
With crypto experts like Michael Wrubel predicting the coin could be the next 100x token, it’s no surprise the presale has already surged past $500,000. The current price is $0.0195 per token, but potential investors need to act quickly as the price will increase once the presale hits $1.2 million.
Staking Rewards
Early presale investors are benefiting from substantial staking rewards, currently above 2,000% APY. These rewards will decrease as the presale progresses and more investors join. However, early investors could see an easy 2-3x return on their initial investment in just a few weeks from staking.
Market Cap Potential
At the current presale price, SHIBASHOOT has a modest market cap of around $43 million. However, if Shiba Shootout achieves its phase 3 roadmap goal of over 100,000 holders and tier 1 exchange listings, the market cap could increase significantly.
The post Brett Holders Flee After 11% Drop, Turning to a New Meme Coin appeared first on Cryptonews.
