Ethereum just retested highs of $2.1k and Bitcoin touched an 18-month high near $38k – tantalizing gains in the past 24 hours.
As investors scramble to position themselves amid bull market momentum for the major cryptocurrencies, interest around some altcoins is growing. In particular is the quest for what could be the new breakout project in the meme coin world.
So, current top dog or frog inspired meme tokens aside, could it be Shiba Memu (SHMU) or Bonk (BONK)?
Shiba Memu vs. Bonk: Battle of dog-themed meme projects?
What is Shiba Memu (SHMU)?
Shiba Memu is a meme coin project that leverages AI for a unique approach to marketing and community engagement. An AI dashboard that taps into natural language processing, predictive analytics and sentiment analysis among other features will power the project’s traction.
The ERC-20 token has a total supply of 1 billion SHMU, 85% of which are set for the community via a presale. 10% is earmarked for liquidity providers and community rewards, while 5% is for project development.
Shiba Memu’s presale was extended after massive demand from the community. There are 49 days left as of today but investors have already added over $4.4 million worth of SHMU to their portfolios.
What is Bonk (BONK)?
Bonk is a Solana-based dog meme coin, launched in late December 2022. The meme token is targeted at the community of the Solana blockchain and is one of the top gainers in that ecosystem. While the collapse of FTX drew negative sentiment to Solana, the chain has shown a resilience that’s visible in the surge towards $50 for the native SOL token.
BONK, a Solana Program Library (SPL) token, was airdropped to Solana developers and users. The airdrop accounted for 50% of BONK’s total supply, and its listing on major CEX platforms has contributed to its price rally.
Shiba Memu vs. BONK price outlook
BONK price rose to an all-time high of $0.00000487 in January, netting massive gains of over 4000% for early buyers. At current prices, the token is 52% down since the ATH. However, it’s jumped more than 270% in the past week to suggest sentiment across the market could help it target the all-time peak.
Meanwhile, Shiba Memu’s presale price will rise to $0.0485 by the end of its presale on December 30. At current price of $0.039925, the presale value of SHMU has increased by more than 258% from the initial $0.011125 per token.
Market analysts say Shiba Memu price could explode when SHMU lists on leading crypto exchanges and the AI dashboard launches. Per the project’s roadmap, the two milestones are expected in the first and third quarter of 2024 respectively.
Which is likely to be a better investment?
Dogecoin, Shiba Inu and Pepe are the top meme tokens in the market by market cap. While they remain the top dog-themed and frog-themed projects in the space, a few emerging competitors currently see as much hype as Shiba Memu and Bonk.
Despite all being meme tokens, they are projects that have taken different approaches to token distribution, marketing and community engagement.
Perhaps the edge that Shiba Memu could have over Bonk will be via the AI dashboard expected to launch in Q3, 2024. Staking might also be a very attractive proposition to investors.
Investors looking to buy one or the other might want to find out more before investing. Also key is the understanding that cryptocurrencies are a maturing sector, and tokens are still prone to volatile swings.
You can learn more about Shiba Memu here.
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