A new project has begun shaking up the meme coin space, combining the popular Shiba Inu theme with a dash of Wild West spirit.
As Shiba Shootout’s (SHIBASHOOT) presale heads toward the $1 million mark, could this be the next meme coin to explode this year?
Shiba Shootout Brings P2E Gaming to the Crypto Wild West
Shiba Shootout’s main feature is a Play-to-Earn (P2E) mobile game currently in development.
A basic version of the game is already available on Google Play and the App Store, allowing early investors to experience the concept.
The full version, scheduled for release later this year, will feature more advanced gameplay elements set in the virtual town of Shiba Gulch.
It’ll also allow players to earn SHIBASHOOT tokens.
SHIBASHOOT is Shiba Shootout’s native ERC-20 token and serves multiple purposes within the ecosystem.
It’s not only the in-game currency for the P2E game but also the key to accessing various features and rewards.
One of the most exciting features is the Cactus Staking system.
Through this system, players can lock up their SHIBASHOOT tokens and earn additional tokens over time.
Shiba Shootout also has a feature called Lucky Lasso Lotteries, where players use their tokens for a chance to win larger crypto prizes.
SHIBASHOOT holders will even get voting rights in the project’s governance setup.
SHIBASHOOT Presale Nears $1M as Investors Bet Big on Future Potential
The Shiba Shootout presale has been steadily gaining traction since it launched.
So far, it’s raised over $770,000 – and is rapidly approaching the $1 million milestone.
This early demand suggests there’s huge interest in Shiba Shootout’s ecosystem.
Currently, early investors can secure SHIBASHOOT tokens for just $0.0197 each.
This is expected to be a discount on the eventual DEX listing price.
However, the SHIBASHOOT price will rise over time since the presale is being conducted in stages.
The next stage begins in nine days’ time.
Looking ahead, Shiba Shootout’s whitepaper lays out plans to list the SHIBASHOOT token on the open market once the presale ends.
A whopping 220 million SHIBASHOOT tokens (10% of the supply) have been set aside to provide exchange liquidity.
A 5% chunk of the supply is also earmarked for the “Rootin’ Tootin’ Shooter Fund.”
Minimal information has been given on what this fund is, but many in the project’s Telegram channel believe it will be used to reward the top players in Shiba Shootout’s P2E game.
Will SHIBASHOOT Be the Next Meme Coin to Explode in 2024?
Could SHIBASHOOT explode after listing on exchanges?
There are certainly reasons to believe it could.
Think about what made meme coins like Dogecoin and Pepe explode – they had a perfect mix of community hype and social media momentum.
Shiba Shootout is already making headway in that regard.
Additionally, the project’s Wild West theme hasn’t been seen in the meme coin space yet.
As such, it could give it an edge over its peers.
We’ve also seen how crypto games can supercharge a project’s popularity.
A prime example is Floki, which rallied earlier this year after revealing a massive update about its own upcoming P2E game.
Giving investors a reason to hold a token long-term seems to be a successful strategy.
And since SHIBASHOOT will be key to Shiba Shootout’s gaming ecosystem, investors are likely to keep their tokens rather than dump them.
This could improve price stability post-listing.
But in the interests of a balanced discussion, it’s important to note that the meme coin market is extremely unpredictable.
For every token that goes viral, there are plenty that fall by the wayside.
That means Shiba Shootout’s success will come down to things like how engaging the gameplay is, how well they get the word out, and whether the overall market is bullish.
So, time will tell whether SHIBASHOOT can explode – but it’s one to watch going forward.
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