Bitcoin claims 25K as Shiba Memu investors defy bear market to take presale above $2M

August 19, 2023 02:15 PM PDT | By Invezz

Weak crypto sentiment hurting Bitcoin and major cryptos

Bitcoin’s decline in the week comes amid weak market sentiment. The weakness comes after reports that Elon Musk-owned SpaceX sold $373 million worth of Bitcoin. The Bitcoins were bought during the 2021-2022 year. The sale may have dampened the sentiment as investors have considered Musk a major crypto influencer.

The fall in Bitcoin also coincides with the trouble in its derivative markets. Investors are said to have liquidated futures contracts in the hundreds of millions of dollars this week. The liquidations should not surprise as cryptocurrencies have stalled and extended lower for over a month. Normally, derivative contracts see liquidations following a prolonged asset price decline.

But amidst the unfolding bear scenario, there is strong enthusiasm for newly launched crypto projects. This could be the story behind the AI-led token Shiba Memu.

Shiba Memu and its AI promise

Shiba Memu’s presale demand has undoubtedly been fueled by its artificial intelligence angle. For a long time, meme cryptocurrencies have been criticised for lacking fundamental value. Shiba Memu earns a value proposition from an AI focus.

Essentially, Shiba Memu will be a self-marketing project. Unlike its predecessors, who depend on human effort to gain traction, Shiba Memu will market itself. The AI can explore and improve on the best marketing strategies. As such, it can generate its own hype using human-like learning capabilities.

The meme genius can also interact with its community. Users can ask the Shiba Memu robot questions, provide feedback, and interact with it through an AI dashboard. In the future, there is no limit on what Shiba Memu can do given these human-like capabilities. This makes Shiba Memu a potential sustainable project to beat its meme peers in the game.

Shiba Memu analysis in light of crypto sentiment

Based on this week’s performance in crypto, one would have expected a Shiba Memu presale to slow down. After all, cryptocurrencies tend to move in a similar fashion. However, the increasing presale shows investors’ hunt for new crypto projects is on.

These projects can potentially bring supernormal returns since they are not yet listed. This means tokens on presale like Shiba Memu are less affected by the prevailing crypto sentiment.

Shiba Memu’s price dynamics are also an attraction to investors. The price of the token increases daily at 6 PM GMT. Over the 8-week presale period, the value of the investment will increase substantially. For early investors, on the first day, the value of their holding will double from $0.011125 to $0.0244. With the increases, Shiba Memu has set a trend that could continue, given the high demand.

How attractive is Shiba Memu?

Shiba Memu carries huge potential due to its AI application and capabilities. But besides AI, Shiba Memu is a meme token. These tokens do not need an introduction as they are always big price movers in crypto markets.

Shiba Memu is attractive in that it could rise by margins exhibited by its meme peers and exceed them. A potential 10x, 20x, or 50x increase exists for the token after listing. Tokens with a meme label have exceeded those margins, and Shiba Memu may not be an exception. The projection, together with an AI focus, makes Shiba Memu a potential investment for 2023 and beyond.

The post Bitcoin claims 25K as Shiba Memu investors defy bear market to take presale above $2M appeared first on Invezz.

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