Since Grayscale is about to launch its XRP Trust investment product and the price of XRP is stuck near major moving averages in the $57 range, holders of XRP are looking to a new initial coin offering (ICO) that may be able to yield higher returns more quickly.
Grayscale relaunched its XRP Trust on Thursday, sparking a 5.2% increase in price for XRP. Grayscale had previously closed the investment offering in 2021 due to regulatory uncertainty.
We are proud to announce the creation of a new single-asset crypto investment fund, Grayscale $XRP Trust, which will be available through private placement.
— Grayscale (@Grayscale) September 12, 2024
Available to eligible accredited investors.
Read the press release: https://t.co/rOmVPUSFxZ pic.twitter.com/WEhk849RmT
However, XRP has not been able to overcome significant resistance levels, which are its 50 and 200DMAs in the $0.55–57 range.
As a result, concerns have grown that the Grayscale announcement may not prove to be a helpful market catalyst.
XRP has underperformed among the big names in the crypto space, down more than 7% year to date, according to CoinMarketCap.
In contrast, even though they have significantly dropped from their recent highs, Bitcoin (BTC), BNB (BNB), and Solana (SOL) have increased by 30 to 76% so far this year.
There is a chance that XRP will be tempted to switch to a well-performing major cryptocurrency.
As an alternative, some holders of XRP may be drawn to promising projects in the initial coin offering (ICO) space; one such ICO in particular has garnered a lot of attention lately.
The new ICO in question is called Shiba Shootout (SHIBASHOOT), a fun Wild West Shiba Inu-themed play-to-earn game.
Here’s everything you need to know about this new ICO with big potential.
New ICO Shiba Shootout – Is It the Right Move?
Shiba Shootout is already making waves in GameFi, with its play-to-earn game already available on the Apple App Store and in Google Play.
To finance its continuous advancement, Shiba Shootout has initiated a fresh initial coin offering (ICO) using its proprietary SHIBASHOOT token.
Over $1.1 million in initial investment was raised during the presale, which was an incredible success.
The fact that numerous well-known cryptocurrency analysts have endorsed the token suggests that the new initial coin offering’s success should not come as a big surprise.
Popular presale analyst Jacob Crypto Bury thinks the coin has 10x potential in a recent YouTube video.
ClayBro, meanwhile, told his 130,000 YouTube subscribers that he thinks the token has a shot at an eventual Binance listing.
See what #Claybro and top analysts our saying about price predictions and pertential binance listing!! 👀 👀 #Cex #Binance #predictionshttps://t.co/tv7wuYr9pY
— shibashootout (@shibashootout) September 9, 2024
SHIBASHOOT is currently one of the best cryptocurrency investments for passive income, as noted by ClayBro in the video above.
20% of the new ICO’s total supply is set aside for rewards to presale investors who stake their money.
And this is contributing to the 851% annual staking yield. In just a few short weeks, an investor in the presale could double their SHIBASHOOT bag at that rate.
SHIBASHOOT – One Not to Miss
A truckload of P2E utility, strong presale momentum and one of the highest yields in crypto suggest the SHIBASHOOT token launch could be explosive.
It is advised that prospective investors act quickly to avoid missing the presale.
They have to keep in mind to conduct independent research and limit the amount of risk they take on.
However, the upcoming ICO Shiba Shootout might be among 2024’s greatest presales.
Joining the new ICO is easy. All investors have to do to purchase the token using ETH, USDT, or BNB is to connect their web3 wallet to the Shiba Shootout website.
Bank cards are also accepted.