New memecoin to watch: Shiba Shootout ICO takes aim at $1m milestone

The new Shiba Inu-themed memecoin, Shiba Shootout (SHIBSHOOT), is making waves as its presale surpasses $600k, inching closer to the $1m milestone

The new Shiba Inu-themed meme coin Shiba Shootout (SHIBSHOOT) is causing a stir today as its presale clears the $600k total raised mark, setting the project on its way to the key $1m milestone.

Combining the lore of Shiba Inu with crypto’s Wild West motif, Shiba Shootout is at the frontier of crypto’s memetic showdown.

Shiba Inu derivatives like Shiba Shootout are primed to explode

All eyes have been on SHIB recently, so It’s the perfect time for Shiba Inu-themed outlays to launch.

The $10 billion market cap joke coin has outpaced its most formidable competitor, Dogecoin, over multiple time frames. For instance, SHIB is up 19% this week, while Dogecoin is up 9%. 

And taking a yearly outlook, Shiba Inu is up 113%, while Dogecoin is up 65%. It’s a decisive win for SHIB, but it is no surprise, given the token’s utility-centric approach.

While Dogecoin focuses on pure memetics, Shiba Inu has multiple demand streams including a layer 2 blockchain, staking, NFTs, a decentralized exchange, and more.

With that, there’s a much clearer narrative for the community to rally behind, which has translated to substantial price growth. Other Shiba Inu-styled tokens like Bonk have also seen significant growth recently.

Bonk follows Shiba Inu’s tracks by incorporating utility alongside its memetic allure. Bonk’s utility is a trading bot, which has provided a new token demand and helped boost its price by 19% this week.

Meanwhile, Shiba Shootout is preparing for the biggest gains yet because the token remains in its presale phase. This enables investors to buy in at a fixed and discounted rate.

Utility in the Shiba Shootout ecosystem

Bonk has notched a $1.5 billion market cap with just a trading bot as its utility, but Shiba Shootout raises the bar considerably. Despite being in its preliminary stages, it offers utilities that could rival its $10 billion predecessor, Shiba Inu.

According to its whitepaper, Shiba Shootout has a referral scheme, an incentivized community storytime, on-chain governance, a lottery, staking, and a unique savings feature that accrues token rewards.

These utilities are geared toward the community, which is the essence of memecoin culture. Shiba Shootout’s allure of a new memecoin with an expansive ecosystem is attracting a lot of attention. 

However, that’s amplified by the team taking action. For instance, it has already launched the staking feature and massive rewards are on offer.

Currently, stakers can accrue more than a 1,600% APY, but this will decrease as more holders stake their tokens.

20% of the SHIBASHOOT supply is earmarked for staking. Another 35% is allocated to the presale, 10% to project funds, 10% to liquidity, 20% to marketing, and 5% to the “Rootin Tootin Shooter Fund.”

With utility at its core and ties to Shiba Inu, the Shiba Shootout presale has caused a buzz among prominent industry figures.

These experts think Shiba Shootout can surge after its IEO

Shiba Shootout is going to blow up. That was the title of a recent video by the renowned Cryptonews YouTube channel.

Delving into the project, the analyst’s first call of order was the project’s artwork. “The artwork is amazing, guys – it has a twist on the original Shiba Inu.”

Given the visual roots of memecoins, that could prove a pivotal selling point for Shiba Shootout over its peers. The analyst also underscored Shiba Shootout’s utilities as a big reason it could explode.

Jacob Bury also weighed in on Shiba Shootout, speculating it could 10x. But others are even more bullish. 

Michael Wrubel is one of those, suggesting SHIBASHOOT has 100x potential to his 300K YouTube subscribers.

Shiba Shootout is quickly making a name for itself, and the more people that learn about it, the greater its potential for capital gains. With that, for interested users, now is the time to join the Shiba Shootout community.

The presale price is expected to increase as the campaign advances, with the next uptick in two days.

To learn more, follow Shiba Shootout on X or join its Telegram to stay updated. Alternatively, visit the Shiba Shootout presale website.