Shiba Memu’s presale nears $800k as XRP rallies on court rulling
Key takeaways
XRP rallied by more than 70% on Thursday following favourable ruling in Ripple’s legal case against the US Securities and Exchange Commission (SEC).
Shiba Memu’s presale nears $800k as more investors enter the market.
The cryptocurrency market has been extremely bullish over the past 24 hours, with the prices of most coins and tokens in the green zone.
Shiba Memu’s presale has also been performing excellently and is now set to reach the $800k level as more investors enter the market.
XRP and XLM rally to new highs
XRP, the native coin of the Ripple ecosystem, rallied by more than 70% on Thursday, thanks to a favourable ruling in the ongoing Ripple vs. SEC legal case.
The U.S. District Court of the Southern District of New York ruled a few hours that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts.
However, the judge also ruled that the institutional sale of the tokens did violate federal securities laws.
Ripple’s partial victory was welcomed by the cryptocurrency ecosystem, with XRP rallying to a one-year high of $0.84 on Thursday, adding more than 70% to its value in the process. At press time, the price of Ripple stands at $0.7857
XLM, the native coin of the Stellar Lumen ecosystem, also soared by more than 50% following the Ripple announcement. BTC, ETH, Solana, and Polygon also recorded excellent gains over the last 24 hours.
What is Shiba Memu?
Shiba Memu, although still in its presale stage, is included in the ongoing market rally. Shiba Memu’s presale reached a new level a few hours ago as more investors entered the market.
Shiba Memu is a cryptocurrency token that combines AI and blockchain technology to create an unstoppable, entirely self-sufficient marketing powerhouse.
In their whitepaper, the team explained that Shiba Memu is a project that could do the work of 100 marketing agencies. However, as an AI-based platform, Shiba Memu is also active.
The platform is always working to find the best work going on in creative advertising, eating it up and spitting it back out, but better.
Shiba Memu is riding on the recent popularity of meme coins, which have become a multi-billion dollar sector within the cryptocurrency industry. Over the last three years, the market cap of meme coins grew from practically $0 to reach the $20 billion mark in 2022.
However, Shiba Memu differs from the hundreds of other meme coins in the market in that it has utility and will solve real-world problems for users.
According to their whitepaper, Shiba Memu has self-sufficient marketing capabilities powered by AI technology, making it a unique and attractive investment.
Shiba Memu will develop its own marketing strategies, write its own PR, and promote itself in relevant forums and social networks.
Currently, the project operates on Ethereum and BNB Chain, the two leading DeFi and smart contract blockchains in the cryptocurrency space.
Shiba Memu’s presale nears $800k
Shiba Memu’s presale investment has more than tripled over the past seven days. Last week, Shiba Memu’s presale investment stood at $215,000, and it currently stands at $798,247.
The surge in investment can be attributed to an increase in investors entering the market and investing in the project.
The Shiba Memu team said they would use the funds generated from the presale to develop some of their products. Most of the funds would be used to develop Shiba Memu’s AI technology.
Click here to find out more about Shiba Memu’s presale event.
Should you invest in Shiba Memu today?
The cryptocurrency market has experienced an excellent performance since the start of the year, with the prices of most coins and tokens up by nearly 50% during that period.
However, the market is still down by more than 50% from the all-time high set in 2021. Market analysts are now expecting Bitcoin and other cryptocurrencies to rally in the medium to long term.
The decision to invest in a token depends on the investor. However, Shiba Memu could be a big winner once the project launches and the token gets listed on cryptocurrency exchanges.
Shiba Memu will be combining the powers of AI and blockchain technology to ease marketing strategies for companies and organisations. If the project gets the right level of adoption, its SHMU token could rally higher over the next few months and years.
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