So, what is Sheesh Coin? This article will answer that question and provide you with all the essentials regarding this project, such as the role of the project’s SHEESH token. In addition, we’ll do a Sheesh Coin price analysis and tell you where you can buy this asset. Furthermore, we will explore the project’s official website, socials, and Etherscan page to provide you with as much insight as possible. You can think of this part as a fundamental analysis (FA).
Of course, our FA wouldn’t be complete without closely examining the SHS token and its tokenomics. Next, we’ll focus on the Sheesh Coin price. We’ll consider all the areas $SHS has covered so far and determine the token’s key levels of support and resistance. Essentially, we’ll perform a rather basic technical analysis (TA).
And while it’s worth pointing out that TA is far from accurate when it comes to newly minted coins, it does offer some valuable insight. If nothing else, we can use tools like the Fibonacci retracement tool to speculate on what price level the asset might reach next.
Our FA and TA will help you decide whether or not the SHS token deserves your attention further. And if so, we will have a special section explaining how to buy Sheesh Coin. This is where you will learn to be extra mindful of the token’s real-time, on-chain metrics. After all, they are the key to determining if now’s the right time to buy $SHS.
What is Sheesh Coin?
Sheesh Coin, or $SHEESH, is a rather new crypto project and cryptocurrency. The latter has the SHS ticker symbol or and is an ERC-20 token. This means it is a fungible crypto that lives on the Ethereum blockchain, where it was minted on June 24, 2023, by “sheeshtoken.eth.”
By looking at the project’s official website (see the image above this section’s title), we must say that the site looks a bit sketchy. It is far from professionally designed and it doesn’t even use its own domain. For us, this is a yellow flag. However, it’s worth pointing out that we’ve seen altcoins with worse or even no websites perform well.
According to SHS’s official website, the project is all about prioritizing decentralization and blockchain tech. In the “About” section, the website further points out that it focuses on building a bridge between DeFi and NFT communities.
So, the core team aims to provide utility for other NFT projects; that’s what they claim, at least. However, they are pretty vague about this idea. Furthermore, they do say that users should imagine a “stakeable” ERC-20 token – let’s presume they talk about the SHS token. The latter is supposedly deployed through a major secondary marketplace and backed by an already proven NFT ecosystem.
The NFT ecosystem that the project refers to is Pepe Ape Yacht Club (PAYC). That means there’s a connection between PAYC and Sheesh Coin. That also explains the cover image. Unfortunately, the SHS project doesn’t provide any documentation or a whitepaper. Therefore, we must look for some clues on the aforementioned website.
But before we move any further, it is important to point out that at this point, $SHS is nothing but a meme coin. The project’s official website states that rather clearly at the very bottom:
What is the Role of the SHS Token?
As a meme coin, the SHS token, by definition, has no use case, at least not yet. However, we can find some “details” about the connection between $SHS and PAYC in the “Roadmap” section of the project’s website. The latter states that $SHS will be deflationary through the PAYC ecosystem. As an example, the team (which, according to the above “memecoin” disclaimer, doesn’t exist) lists their ability to use $SHEESH mint, non-dilutive NFTs through their NFT staking contract.
The project’s rather memetic roadmap, with no clear dates and timeframes, indicates that “Phase 2” and “Phase 3” bring some utility to $SHS. In the former, the SHS token should be used as a ticket to access a designated Discord group and get voting power regarding the changes made to the protocol. In “Phase 3,” users should be able to use $SHEESH to list and purchase NFTs. Essentially, the third phase is where the token staking is supposed to come to play.
Judging by the number of $SHS holders, which is currently still below 1,000, the project is in its first phase.
Plus, looking at the Twitter account, we can spot the collaboration with the PAYC community. If the number of followers is organic, it does indicate the previous success of PAYC NFTs.
What is PAYC?
PAYC is an NFT ecosystem with multiple collections. The three most popular PAYC collections include the so-called PAYC Genesis collection, PAYC Mutants, and PAYC Legends. They all went live in 2022 – July, September, and December – in the same order. The first one includes 7,777 NFTs, the second one 2,801, and the third one 1,000.
There are multiple NFT marketplaces where you can trade these NFTs, including OpenSea. At Aura, you can already purchase some of them with $SHS.
As for the originality of those NFTs, you can see that they clearly took one of the most popular NFT collections and added a Pepe meme twist.
$SHEESH Tokenomics
Aside from the above-mentioned lack of professionalism regarding the project’s official website and not even getting a unique domain, the tokenomics raise another yellow flag. Why? Well, if you remember, the project’s disclaimer clearly states that there’s no official team, yet $SHS distribution assigned nine percent of the total supply to “team.”
In the above image, you can also see that the token had a presale. And it included a rather high percentage of 420 billion SHS tokens. As for the $SHS total supply, we can use Etherscan to verify that it really is set at 420,000,000,000.
Despite these yellow flags, the token continues to trade rather high above its listing price, despite its recent cooldown. The fact that the token creators locked the SHS-WETH liquidity obviously provides some confidence.
Analyzing the Sheesh Coin Price
$SHEESH started to be traded on June 24, 2023. The Sheesh Coin price (listing) was $0.000000223; however, it closed its first five-minute candle at $0.000001523. So, that was a nearly 7x pump in just five minutes. Plus, it’s worth pointing out that the price spiked all the way up to $0.000003554 with those first five minutes of trading on Uniswap.
And, if we now focus on the asset’s four-hour chart, you can see that the same levels remained respected within the first four hours of trading.
Looking at the above chart, you can see that following the initial pump, $SHS actually pulled back and found support at $0.000000853-ish. From there, the trend reversed and the token started to climb toward its current all-time high (ATH).
Of course, as with most new alts, there were several short-lived 30-50% corrections along the way. However, the Sheesh Coin price managed to increase its listing value by more than 2400% in the first ten days.
But after setting its ATH at $0.000006201 on July 4, 2023, SHS went through a major pullback. After decreasing in value by nearly 70% in less than three days, the token found support at $0.000001851. The latter is the upper level of a more significant support region that previously served as resistance.
From the aforementioned level, the Sheesh Coin price bounced back up by more than 90% but found resistance at one of the previous supports. So, the token pulled back down and started to move sideways between the $0.000002339-ish and $0.000003093-ish levels. On July 11, 2023, the asset managed to break out of that channel and is retesting its upper level at the time of writing.
$SHS Price Speculation
When it comes to meme coins, there can be no price prediction but only speculation. And there are several ways to speculate on how high the asset could go. For example, we could compare $SHEESH’s market cap with some leading meme coins and speculate that it could potentially reach those tokens’ ATH market caps.
However, the nature of this project is not typically memetic; as such, we decided to restrict our speculation to more probable scenarios. So, we used the Fibonacci retracement tool. This tool’s most optimistic short-term level (the 4.236 extensions) points to $0.000020. From the current price (at the time of writing), that would be a 6x-plus increase in value.
Using our simplified FA and TA, you should be able to determine whether or not $SHEESH deserves your attention further. If yes, use the following section as it will also help you with getting your timing right if you want to buy $SHEESH!
How to Buy Sheesh Coin
If you decide you wish to get a bag of $SHEESH, you have several options. Just use the “Market” section on CoinGecko or CoinMarketCap page for that token. There, you’ll find a list of all CEXs and DEXs that offer the relevant training pair, including the trading volume. As such, you can easily pick a market that best suits your goals.
What’s a token page?
That is a part of Moralis Money’s secondary purpose that revolves around researching individual altcoins. These pages include links to a token’s official website, socials, and other resources, the token’s price chart, smart contract security details, a bubble map, etc. Essentially, you get to perform a proper FA and TA on a single page.
However, the most important part of the Moralis Money token pages is the real-time, on-chain metrics that you can view on different timeframes. By looking at the token’s on-chain momentum, you get to determine if now’s the right time to buy the asset. After all, the on-chain activity always precedes price action.
Going Beyond $SHEESH with Moralis Money
The core benefit of using Moralis Money revolves around spotting the best altcoin opportunities at any time.
After all, while the Sheesh Coin price 20x-plus increase may seem impressive, there are many other, even better, altcoin opportunities. After all, the average altcoin tends to increase by 50-70x during a bull run. Plus, there are many coins that do 100x, 1000x, and more, even outside the bull run. For instance, just consider the PEPE token’s 100,000x-plus increase in less than 21 days.
So, Moralis Money helps you find these kinds of opportunities before it’s too late. And it all boils down to running either preset filters or your unique strategies!
Use the animations below to help you get going with either of the two options:
- This is how you apply Moralis Money preset filters:
- This is how you use Token Explorer to run your unique strategies:
Analyzing the Sheesh Coin (SHS) Price and How to Buy $SHEESH – Summary
In today’s article, we explored the Sheesh Coin crypto project and the SHS token. We looked at the project’s official website and socials to determine what it’s all about. It turns out that $SHEESH is yet another meme coin. However, it does plan to offer specific use cases. After all, the token’s association with the PAYC NFT project gives it a potential head start.
We also looked at the Sheesh Coin price and performed some basic TA. As such, you now know what the current support and resistance levels are. Plus, we used the Fibonacci retracement tool to speculate how high could the price of SHS go if it manages to break above the current ATH level.
Along the way, you also learned how to use the research page for the token and analyze its real-time, on-chain metrics. So, you know how to determine whether or not now’s a good time to buy $SHS.
As a bonus, we also shared two animations that will help you start using Moralis Money’s core feature. So, make sure to start finding the best altcoin opportunities today!
Don’t forget that Moralis Money supports all the leading crypto networks (Ethereum, BNB Chain, Polygon, Fantom, Arbitrum, etc.). Also, there are many other powerful Moralis Money features you ought to explore. For instance, explore how to set crypto price alerts for buy and sell signals today!
