Dogecoin and Shiba Inu have been facing significant drops in price recently, with both down over 30% in the past month. Dogecoin, which was once riding high at $0.174, has now plummeted to $0.122, causing concern among holders. Similarly, Shiba Inu has seen a 34% drop from $0.0000255 to $0.0000171.
Both meme coins have fallen below key moving averages on the daily chart, indicating a bearish trend. However, there is some hope as Dogecoin seems to be holding support at $0.120, while Shiba Inu has found support at $0.0000170.
Despite the struggles of these old guard meme coins, a new player has entered the scene – PlayDoge. This new meme project combines viral appeal with Play-to-Earn mechanics, allowing users to earn PLAY tokens by caring for their virtual “Doge” in a Tamagotchi-style game.
PlayDoge’s presale has been a success, raising over $5.1 million so far. Early investors can purchase PLAY tokens at a discounted price and enjoy staking rewards with estimated annual yields of 124%. The project has gained significant attention on social media and has been ranked 3rd on ICOBench’s list of upcoming crypto launches to watch.
With Dogecoin and Shiba Inu facing challenges, PlayDoge offers a new opportunity for investors seeking a fresh alternative in the meme coin space. As always, readers are advised to conduct their own research and consult with a professional before making any investment decisions in the volatile cryptocurrency market.