Shiba Inu has been hibernating for a long time now. Apart from collapsing a few points down during market downturns, the meme coin has been largely lukewarm this year. It failed to make movements even during the XRP victory over the SEC.
But the market has its eyes turned to Shiba Inu again as the Shibarium Mainnet launch closes in.
SHIB Trading Volume is 153% Up
LucieShib, a member of the Shiba Inu marketing team, hinted at the Shibarium Mainnet Launch being expedited via Twitter. According to the Fear & Greed Index, the market is mostly greedy toward Shib on 25 July 2023. But that hasn’t translated to a price increase for the meme coin. It has managed to gain just 0.10% over the last 24 hours.
Shiba Inu fear and greed index, 25 July 2023, CFGI.io
It is assumed that the uncertainty surrounding the launch and its efficiency has urged investors to exercise caution. According to on-chain data, the total number of SHIB tokens transferred has been steadily dipping since the news around the Ripple lawsuit spread euphoria in the market.
Tokens Transferred is used to understand the variations in network activity by adding the number of tokens transacted among users on a day. A drop in Tokens Transferred indicates that the network activity is low. When it comes to Shiba Inu, the metric slipped by 89% from 11.5 trillion to 1.3 trillion SHIB between July 14 and July 24.
That explains why the SHIB price has failed to make a strong movement in either direction over the last two weeks. While the coin has registered a 3% rise on the fortnight chart, the movement on the weekly chart is just 1.08%.
Shiba Inu 7-day price action, 25 July 2023, CoinMarketCap
Shiba Inu Price Prediction this Week
The launch date has been postponed multiple times in the past. Despite the cryptic post from LucieShib, there is no clarity on the launch yet. The same account had earlier posted that the launch will be likely held in August or September.
#Shibarium is not coming this month, and there’s a BIG MAYBE it will come in the next 2-3 months. However, since we have waited this long, we can wait a few more weeks.
Meanwhile, let’s enjoy the things that will come before, such as Metaverse teasers or new $SHIB achievements.… pic.twitter.com/PAhqpXOuxf
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 9, 2023
A blog post by Shytoshi Kusama earlier revealed that layer 2, Shibarium will be revealed during the Blockchain Futurist Conference, ETHToronto and ETHWomen hackathons, scheduled for August 2023 in Canada. But the milestone, possibly one of the most decisive in the upcoming journey of Shiba Inu, will not lead to a price increase if the uncertainty persists.
It is unrealistic to expect SHIB to make volatile moves this week under the current circumstances. Investors are opting to wait for a more concrete announcement from Shiba Inu team members regarding the Mainnet launch before pouring money into the asset or stepping up their position.
Currently priced at $0.000007812, Shiba Inu bulls are aiming for $0.0000085 for the rest of the week. But it will remain in the $0.000007 range if there aren’t any remarkable variations in the social sentiment.
Since the broader market is down by 1.67% in the last 24 hours to $1.17T, the bearish movement could pull down Shiba Inu further. It can slip to $0.0000065 if bears dominate the market.
Can Shiba Inu Steal Evil Pepe’s Thunder?
Evil Pepe has been one of the most trending meme coin sensations of July. The dark cousin of Pepe launched its token sale last week and has steadily been growing a meme community. As Pepe collapses to new lows, investors believe Evil Pepe to offer a respite.
The presale of $EVILPEPE is limited to fourteen days to set a low initial market cap for the meme coin. But if the team sustains the current pace, it will sell out this week. It will be followed by the token launch soon, widely predicted to lead to a broader meme coin mania.
A closer look at the crypto side of Twitter reveals that the Shibarium Mainnet launch has failed to match the social media buzz around Evil Pepe. The word about the meme coin is spreading across the market, strengthening its price predictions. According to analysts, $EVILPEPE is the next meme coin ready for an explosion with the potential to book anywhere from 2000% to 5000% ROI for presale investors.
What’s Behind the Evil Pepe Hype?
Like all meme coins that took the market by storm, Evil Pepe’s marketing success can be attributed to its wild theme and copies. Instead of sweet-coating, it lays down its principle and vision in blunt words.
“You just lost your previous trade, so you know you should leave it alone. But you ape in any way. That’s Evil Pepe. He made you do it. And you can blame him without shame here. We all need a bit of an evil side to succeed in the meme coin game. Now embrace what your evil voice is telling you and buy Pepe Coin – the Evil version – in presale before DEX pump!”.
Evil Pepe’s prospects as a long-term hold are close to zero, especially when compared to established meme coins like Shiba Inu and Dogecoin. But it is an excellent short-term investment for the next few weeks. Investors who manage to grab the meme coin before the presale sells out are looking at weighty potential returns in the first week of August.
Evil Pepe vs. Wall Street Memes – Which is the Best Meme Coin Investment Now?
Wall Street Memes is another meme coin to seize the market’s attention this month. It is a large-scale meme coin project compared to Evil Pepe, running for the third place on the meme coin chart.
While that may sound like an ambitious target, the community sold out its NFT collection titled Wall St. Bulls in 2021 within half an hour. Being backed by an existing 1M+ community, Wall Street Memes has its eyes set on bigger ambitions this time. It is hailed as the next 100X meme coin according to top crypto publications.
That said, Evil Pepe has a strong competitive edge over Wall Street Memes in terms of the initial market cap. While WSM has a presale target of $30M, Evil Pepe is aiming for a remarkably lower amount of just $1,996,002. In other words, Evil Pepe has a low initial market cap compared to Wall Street Memes, leaving larger room for growth for early investors.
Welcome to the dark side 🐸🔮 Dive into the depths of the meme-verse with Evil Pepe, an unapologetically evil twist on a classic meme. Join the presale and become a part of the most sinister token project on the blockchain💀💰 #EvilPepe #Presale #ERC20 #crypto pic.twitter.com/9GLZLG4nNC
— Evil Pepe (@evilpepe_token) July 24, 2023
The token launch of Evil Pepe will also go earlier than Wall Street Memes due to the shorter presale period. Although Wall Street Memes has raised $17.5M out of its $30M already, it is unlikely to sell out in the next eight days. But if whales dominate the WSM presale, the possibility of a sell-out can’t be ruled out this month.
