2023-10-11 23:37 |
Shiba Inu and Dogecoin have lost momentum in the past few years as investors move from traditional meme coins. SHIB plunged to a low of $0.0000068, the lowest level since June 2023. It has crashed by more than 39% from the highest level this year.
Similarly, Dogecoin price has slipped to a low of $0.056, the lowest point since June. It has dropped by double digits from the year-to-date high. Other traditional meme coins like Dogelon Mars, Floki Inu, and Baby Doge have also crashed in line with other cryptocurrencies.
Shiba Memu to the rescue?Meme coins have retreated because of the relatively low demand among investors. They have also dropped because of the actions of the Federal Reserve and American regulators. The Fed has hiked rates from zero in 2022 to a multi-decade high of 5.50%. Officials have hinted that they will deliver another hike this year.
The SEC has also been quite aggressive in the past few months. It recently sued Binance and Coinbase, the two biggest companies in the industry. Also, it has continually denied companies like VanEck, Fidelity, Blackrock, and Grayscale their spot Bitcoin ETF applications.
Despite the doom and gloom, Shiba Memu aims to change this trend. Its token sale has continued and is now approaching the important level of $4 million. It has raised $3.73 million in the past two months.
Shiba Memu will be different from other tokens like Shiba Inu and Dogecoin. For one, it will come with an in-built utility, including its integration with artificial intelligence (AI). Its AI technology will be highly advanced and will include technologies like Natural Language Processing (NLP), sentiment analysis, image and video recognition, and predictive analytics. You can buy Shiba Memu here.
Is Shiba Memu a good investment?Shiba Memu aims to be a better meme coin than popular coins like Pepe, Bonk, Shiba Inu, and Dogelon Mars. It aims to do that by using AI for marketing purposes. And in future, the developers aim to ensure to build a comprehensive suite of products, including the metaverse and games.
Therefore, the risk/reward ratio of this investment seems favourable. This means that buying a few Shiba Memu tokens could lead to substantial returns when it is listed in key decentralised and centralised exchanges like Binance, Coinbase, and Uniswap.
Shiba Memu token will have 1 billion tokens. 85% of these tokens are now being sold in a presale event while 10% of them will go to CEX and DEX platforms. Other tokens will go to developers and cross-chain liquidity.
However, investing in Shiba Memu is still a risky asset as we have seen with key meme tokens like Bonk and Milady meme coin. Therefore, you should only invest funds you can afford to lose.
The post Shiba Memu aims to outperform Shiba Inu, Dogecoin appeared first on Invezz.
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