Dogecoin and Shiba Memu (SHMU) – What is the price outlook?
Shiba Memu is a new meme coin that uses the AI revolution. The project is in pre-sale and has collected more than 3.8 million dollars. Dogecoin (DOGE) is the leading meme coin, but its price has struggled as daily transactions have dipped.
Dogecoin is struggling to keep prices above key support levels as the leading meme registers a sharp decline in kriptovalyutnogo daily transactions. Meanwhile, Shiba Memu (SHMU)'s pre-sale reached $3.8 million, while the price rose to $0.0334.
Here we examine the price outlook of the two tokens in the broader context of the crypto market, reflecting the market reaction to the recent US inflation report. Stocks moved after the consumer price index (CPI) rose 0.4% and 0.3% in September, compared with a 3.7% increase in August last year.
Shiba Memu – AI revolution for meme coins.
Shiba Meme is a new cryptocurrency that brings a unique approach to crypto memes by combining the ever-increasing artificial intelligence (AI) narrative and blockchain. SHMU, a native token launched on the Ethereum blockchain, will have a supply of 1 billion tokens, with 85% available to the public in a presale.
With AI at the heart of this new meme coin, the idea of creating a self-contained crypto ecosystem has been envisioned. Shiba Memu's white paper outlines a project that is different from other Mame Coin projects – one that uses AI technology to create a powerful marketing system that doesn't rely on celebrities or influencers.
The AI dashboard takes care of this, while SHMU holders benefit from additional facilities such as token stock and Shiba Memu pool supply.
Dogecoin Price: View of DOGE as daily transactions sink
Dogecoin leads the meme cryptocurrencies with a market cap of nearly $8.2 billion. As the OG of the sector, DOGE draws support from fellow Tesla CEO and X (formerly Twitter) owner Elon Musk.
However, the cryptocurrency struggled to break the coveted $1 level – its all-time high reached $0.73 in May 2021. Currently, the price of Dogecoin settles below $0.58, indicating this fact with a 5.6% dip in the last 30 days. It's a view that echoes Bitcoin's recent break since the $30k crash.
One indicator of its performance over the past few weeks is the 7-day average of Dogecoin's daily transactions. According to the chain's data, the network is recording an average of 37.3k daily transactions — a significant drop from June's peak of 2.1 million and “a second-quarter increase of 616k in July,” according to Into Zeblock.
Is Dogecoin going to see network activity like last quarter? And can this be reflected in the price of DOGE?
While the current outlook suggests that this may be the case, investors may be following the upcoming event surrounding the dog meme that inspired the creation of Dogecoin. That event is scheduled for November 2. If the price rises in a bull market amid other positive triggers, the key short-term target remains $1.
Shiba Memu Price: Could SHMU Reach $1 in 2024?
As previously mentioned, Shiba Memu has attracted more than $3.8 million from international investors since its pre-sale. The pre-sale price increases daily at 6pm GMT, a novel approach that has seen participation increase as early birds purchase SHMU at bargain prices.
The price is set to jump from today's $0.0334 to $0.0379 last sale price. As the tokens launch on crypto exchanges, the increased demand may trigger similar movements to those that have greeted other crypto coins in the market.
If Shiba Memu does 2x after launch, that could push its price over $0.1. Then, as the crypto and AI giant forecasts enter 2024, SHMU can trade higher and target the $1 level. However, this may depend on market conditions and other factors specific to the project.
To purchase Shiba Memu or learn more, visit the project's pre-sale page.
