Shiba Memu presale has raised over $2.2 million
Increasing risk-off sentiment is hurting the rest of the sector
Shiba Memu could return by up to 1,000%
The past week has been a bloody period for cryptocurrencies. A more than 10% loss takes Bitcoin to slightly above $26,000, while Ethereum is back to below $1,700. The losses reflect an increasing risk-off mood, with the US dollar gaining strengths. But does that mean investors are giving up on the sector? Shiba Memu (SHMU), an upcoming meme cryptocurrency, has witnessed high demand. With over $2.2 million raised, the& presale illustrates interest in high-potential crypto projects.
Risk-off sentiment and what it means for crypto
Appetite for high-risk appetite has cooled off lately, thanks to sector concerns and macro developments. Sector risks have been underlined by falling Bitcoin volume on exchanges. This follows reports that Elon Musk’s SpaceX has sold its Bitcoin holdings.
Meanwhile, the US dollar, which has an inverse relationship with Bitcoin, has been gaining. The most notable contributor is expectations that the Fed will hold its hawkish monetary policy. Ahead of this week’s annual Jackson Hole meeting, analysts have been sounding higher rates.
The expectations of hawkish policy reflect elevated inflation rates. Although the July consumer price index eased to 3.2%, it remains outside the band Fed considers appropriate. The US central bank has a 2% inflation target, with July readings above it. As such, the projection of a hawkish stance has spooked crypto markets ahead of the meeting.&
Shiba Memu defies the risk-off mood
Shiba Memu is a new crypto project that aims to be self-sustainable in the meme space. This has attracted demand as the native token, SHMU, carries a use case that outwits its meme peers. In particular, investors may be attracted to Shiba Memu’s AI angle. The project utilises AI capabilities such as machine learning and predictive analytics to self-market itself.&
Shiba Memu can also engage with its users through an AI-led application. A robotistic dashboard lets users ask the robot questions, give feedback, and provide suggestions. The use cases are expected to make Shiba Memu a unique user-led platform. In the future, there is no limit on what Shiba Memu can achieve with its AI application.
As investors shun risky holdings like Bitcoin, they could shift attention to Shiba Memu. A project of its nature is yet to unlock value, explaining the high demand. SHMU doesn’t rank on the same risk profile as the greenback. However, it gives investors an excellent alternative to mainstream assets. This could explain the fast-selling presale.
Shiba Memu carries a meme vibe
Whenever meme cryptocurrencies are mentioned, eyebrows are raised. They are assets that have shown huge promise to deliver up to 10 times due on pure online chatter. Shiba Memu is a meme cryptocurrency and reawakens similar thoughts. Investors expect huge gains once the value of this token is unlocked after listing on exchanges.
The meme vibe is also brought out in Shiba Memu’s price dynamics. The price of the cryptocurrency increases every day at 6 PM GMT.
For example, the price of the token is $0.022150. That compares to a price of $0.011125 when the presale was launched. The presale ends after eight weeks at a SHMU price of $0.0244. It means investors that bought the token at the initial stage will see the value of their holding double. The trend gives investors a meme vibe as these tokens are known to be always on the move.
Should you invest in Shiba Memu now?
Obviously, Shiba Memu’s presale is near its conclusion. Investors that missed a chance to buy at the initial stages can still do so now as the price is low. The value of SHMU could increase exponentially after listing. It means investing now allows investors to benefit from potential price increases.
Predictably, Shiba Memu could return up to 1,000% once listed. Highly subscribed projects have risen by more than the prediction. This gives Shiba Memu a realistic chance to rise by similar margins.
The post Cryptocurrencies face more slump, but Shiba Memu shines on presale appeared first on CoinJournal.
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