Meme coins have experienced a huge resurgence in popularity, captivating the attention of crypto enthusiasts worldwide. Among the best meme coins for 2023, Shiba Inu (SHIB) and Dogecoin (DOGE) have garnered significant attention. While investors have also been on the lookout for new meme coin presales, a new player in the field, Caged Beasts (BST) is emerging as a potential Shiba Inu killer.
Shiba Inu Faces Challenges
Shiba Inu drew inspiration from Dogecoin and quickly gained attention with its meme-themed concept and self-identification as the “Dogecoin Killer”. Its creators envisioned a community-driven and decentralised ecosystem for token holders and aimed to overtake Dogecoin in the crypto market. Shiba Inu has since amassed a loyal following of enthused investors due to its charismatic appeal.
Just days after its debut, Shiba Inu rose by 1,500%, but it has remained volatile since. The token is currently facing resistance at the “death line” which could potentially push the token to its lowest lows around $0.000007. If this bearish trendline is sustained, Shiba…