Shiba Holders Shift Funds to New ICO as SHIB Price Crashes, Eyes Set on 1,100% Returns

After having dropped as much as 20% on the day, the Shiba Inu (SHIB) price has somehow managed to recover into the green despite the broader crypto crash, but nervous Shiba holders nonetheless continue to shift funds to a new ICO as they set their sights on 1,100% returns.

SHIB was last trading close to $0.00001350, having briefly dipped under $0.000011 earlier in the session.

The downside volatility seen in Shiba Inu comes amid a broader crypto market crash. Bitcoin (BTC) is down over 7% in 24 hours and Ethereum (ETH) is down around 20%, CoinMarketCap shows.

The crash comes amid concerns that the US (and global) economy is tilting towards recession, and that the Fed won’t respond fast enough.

The rushed unwinding of the hugely popular pro-risk Japanese yen carry trade amid BoJ hawkishness, as well as potential forced ETH selling from Jump Crypto is also weighing crypto assets.

SHIB may have recovered well from earlier session lows but remains in a strong downtrend.

If this is the start of a new crypto crash, then SHIB could soon be headed back to 2023 lows under $0.000006.

SHIBUSD / Source: TradingView

That would mean more than 50% downside from current levels.

Its no surprise then that Shiba Inu holders are seeking shelted in a new ICO with big potential called Shiba Shootout (SHIBASHOOT) .

New ICO Shiba Shootout (SHIBASHOOT) – A P2E and Passive Income Gem

Shiba Shootout is a Wild West-themed play-to-earn (P2E) Shiba Inu dog meme coin.

The new ICO’s P2E game has already launched on Google Play and the Apple App Store .

To power its ongoing development and marketing endeavors, Shiba Shootout is conducting a presale of its native SHIBASHOOT token.

The new ICO is enjoying strong momentum, having already secured nearly $900,000 in early investment.

35% of the SHIBASHOOT token supply will be up for grabs during the presale.

20%, meanwhile, has been reserved for staking rewards.

That means that not only is SHIBASHOOT one of the most promising P2E project’s out there, but it is also a passive income gem.

Presale investors can immediately stake their tokens for around 1,100% APY yields, per the official website .

At those yields, a presale investor can double their SHIBASHOOT bag in as little as a few weeks.

Shiba Shootout’s new ICO could accelerate in wake of a number of crypto influencers coming out in support of the project.

Michael Wrubel told his 312,000 YouTube subscribers that he thinks SHIBASHOOT could be the next 100x Shiba Inu gem.

Other analysts like ClayBro, Austin Hilton and Zach Humphries are also backing the coin. They have a combined YouTube following of over half a million.

Analysts at Cryptonews.com are also big fans of the new ICO, ranking it amongst their best presales to buy now .

Visit Shiba Shootout Now