Bullish sentiments are dropping in some of the meme projects, like Book of Meme (BOME), and in others, like Shiba Inu (SHIB), the already frustrated holders are simply cutting their losses. The meme market sported a bullish outlook two weeks ago, but the bearish pressure has been decidedly overwhelming ever since.

At the moment, it might seem like all the meme enthusiasts are emptying their deposits from one meme project to the other. Raboo's presale has continued to receive quite an inflow lately, and the new meme coin already has an agenda to overthrow the current meme giants.

Investors are banking on the new meme; here's why.

Shiba Inu cannot hold its support

The SHIB price has been testing its lower levels, which is not very unlike Bitcoin. Meme coins are easily influenced by the price movement on the top altcoins, and Shiba Inu has anchored its possibility of a pump on Bitcoin.

Now that the top crypto coin is letting Shiba Inu down, there is significant sell pressure, causing the token price to drop to even further support levels. Shiba Inu lost the $0.00002 level during the week, and even the psychological support at $0.000015 might not withstand the bearish days ahead. 

UToday predicts that the SHIB price will need a 'big catalyst' to have a price reversal in the future. Other analysts predicted that the token could drop to $0.14 in the face of the current market volatility.

Book of Meme whales could revive BOME price

Shiba Inu has it worse off than most other meme coins, but Book of Meme has experienced a dip in optimism from its users. The sell pressure is getting to the meme coins first, as investors prefer to hold tokens with real-life applications.

Following the reduced bullish sentiments, Open Interest in Book of Meme is dropping, according to data from Coinglass. The Open Interest refers to the outstanding contracts in derivatives markets. It often indicates that more traders are expecting the token to pump in the long run. As it stands with BOME, the holders are dumping their tokens fast.

BeInCrypto analysis linked the reduced Open Interest with the dropping BOME price. However, there are signs of accumulation on Book of Meme's charts, as the Chaikin Money Flow Index indicates that traders could be buying the dip. Maybe a rebound to $0.011 is possible from BOME price’s current $0.009036 level.

Among the meme coins, Raboo has been the most consistent lately, delivering 60% ROI to its earliest investors. While SHIB and BOME struggle against the market forces, Raboo is preparing a grand entry.

Raboo: New memes? Even more fun!

The crypto-verse always relishes the idea of new memes flooding the market, and there's probably no better time than now for Raboo to announce its meme project. The sector is almost dead, with more meme tokens focusing on market profits instead of their primary objectives.

Memes used to be the soul of crypto entertainment–at least, that was the idea behind Dogecoin's launch in 2013. Raboo is restoring that entertainment with its new meme method, and the $RABT community will be very hands-on here.

Raboo is launching a generative AI to help compile meme content from different users and create new, fresh memes on a regular basis. So, the Raboo users post their memeable pictures, videos, and GIFs on the platform through the post-to-earn feature, providing the AI with ample data to create relatable memes daily.

Raboo's meme philosophy is directed towards improving the quality of the memes, and with humans and AI working together, that will happen shortly. $RABT users get token rewards as incentives for their activity on the network.

Indeed, Raboo is the only meme token doing that!

Conclusion

Raboo might be a meme coin, but investors are all over its presale at the moment. The $RABT tokens are offering quite the deal in short-term gains, but the potential long-term ROI is even better.

The presale is in Stage 4, with each token selling for $0.0048. The first buyers are 60% up at the moment, but you can still tap into the 233% presale gains.

You should also hold out for the 100x expected when $RABT coins make it to a top-tier exchange. Join a meme coin with real potential today–choose $RABT!

You can participate in the Raboo presale here:

Telegram: https://t.me/RabootokenPortal

Twitter: https://twitter.com/Raboo_Official

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