Shiba Inu (SHIB) investors are panicking because of the meme coin’s sharp reversal from recent highs amid rising geopolitical tensions in the Middle East. Some are instead shifting to a new ICO with big upside potential as a hedge.
SHIB was last trading around $0.00001570, a near 30% drop from last week’s highs in the $0.22 area.
Following a rapid Shiba Inu price surge last week, traders had been growing increasingly optimistic that a new meme season was incoming.
Indeed, October is typically the best month of the year for major cryptos.
However, Iran’s missile strike against Israel has spoiled the party.
Everyone on X : " Uptober is here, Q4 is very bullish"
Iran to Israel : pic.twitter.com/AIUwi7G5fW— naiive (@naiivememe) October 2, 2024
Israel is expected to respond with its own strike within days, and we could soon be headed towards all-out war in the region.
That could have a big impact on the global economy by choking off a significant portion of crude oil produced and exported through the Strait of Hormuz.
That explains why investors have been moving from riskier assets like stocks and crypto into safer assets like bonds and gold in recent sessions.
Meme coins like Shiba Inu are often the first assets to get dumped in such an environment.
Shiba Inu could soon retest its recent lows in the $0.000013 area.
However, one new ICO called Meme Bets (MEMEBETS) continues to attract substantial demand despite geopolitical turmoil.
Meme Bets is a new crypto web and Telegram casino with a twist – it specifically targets the meme coin degen crowd by allowing them to play with their meme coin holdings.
Meme Bets’ new ICO has already raised more than $350,000, and analysts at Cryptonews.com think it’s one of the best presales to buy now.
Here’s everything you need to know about the exciting new ICO project.
New ICO Meme Bets Is Making Waves – Here’s What You Need to Know
Meme Bets is a new no-KYC Telegram-based casino that offers crypto degens the chance to wager their meme coin holdings.
The casino also features a crypto casino and sportsbook website, appealing to punters of all types.
Meme Bet’s native token, MEMEBET, is packed with utility. It grants its holders exclusive bonuses and challenges within the casino protocol.
Moreover, MEMEBET holders will be eligible to partake in a huge airdrop run by the new ICO.
20% of the MEMEBET supply is reserved to be airdropped to users of the Meme Bet casino; the more they play, the more they will receive.
In that sense, Meme Bets is also a play-to-earn protocol.
70% of the MEMEBET supply is being made available via the new ICO.
And the final 10% has been reserved for liquidity.
Sat at the intersection of the fast-growing GambleFi and meme coin sectors, Meme Bets has huge potential to pop.
In the video below, Cryptonews.com’s in-house analyst, Crypto Chester, explains why he thinks it has 100x potential.
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