Shiba Memu shined as investors’ buying power hit a 6-month high
The Shiba Memu presale reached $3.6 million as more investors bought into the AI meme coin. Meanwhile, the stablecoin hit a 6-month high on exchanges, led by large whale stocks. What does exchange power congestion mean for crypto, Shiba Memu?
Although the crypto market is still in a bullish phase amid recent price action, analysts are pointing to on-chain data to suggest that the bull run may not be that long. This is related to the increase in holdings of the stablecoin Tether (USDT) currency, which has historically coincided with fresh opportunities for crypto investors.
What does this strong bullish flip mean for Shiba Memu, a new crypto project that recently raised nearly $3.6 million in a pre-sale?
Investors buy energy jumps 7%, what does that mean?
As Bitcoin broke above $28k earlier this week, on-chain data shared by market intelligence platform Santiment showed a significant shift in investor sentiment. This is a low for Tether on exchanges, which recently hit a six-month high, according to data. The purchasing power of the currency increased by 7% from 17.6% to 24.7%.
It is an increase that indicates an increase in purchasing power to a stable coin, often the accumulation phase before a new entry into the market. A sharp increase in the currency's purchasing power, taking shape with whales at the fore, signals to market investors that it's time to buy the dip.
“The 10 largest addresses have grown their $USDT holdings from $7.30B to $9.42B in 3 months,” Santiment wrote on X (formerly Twitter). Although investors will take advantage of the opportunity to buy at a discount, it is a view that suggests the next market correction could be beneficial.
Often times BTC and ETH are top buys when prices crash. XRP and Polygon, two altcoins that are seeing huge monthly volume driven by different factors, are likely to be at the top of many investors' watch lists. However, Shiba Memu is one of the projects attracting the most attention as investors look for the next bull market gem.
Shiba Memu – marrying meme with AI
Shiba Memu is a project that seeks to bring the benefits of artificial intelligence to the world of mm coins.
Dogecoin, Shiba Inu and other leading meme tokens have one thing in common – an over-reliance on human transactions to feed the hype that drives the traction. Shiba Memu stands out among the memorable contestants in this regard. Essentially, it is an AI-driven project using the latest technology to create a marketing force that does not rely on human effort.
Apart from this, the value of the community is enhanced by activities such as the interoperability of decentralized applications (dApps).
How does Shiba Memu work?
Among the trends that will determine the project's selling point are natural language processing, machine learning, predictive analytics and image/video recognition. AI algorithms will be used to create a self-sustaining marketing machine that feeds off a meme-inspired world to drive adoption for SHMU.
This can be achieved through the unique AI dashboard which, among other features, provides direct interaction between the Memi genius and Shiba Memu owners. Added comments and feedback from users will give them the chance to get more SHMU.
AI Narrative – The main adoption is here
One of the major venture funding developments this week was the news that artificial intelligence startup Anthropoc is looking to raise $2 billion from investors led by Google. According to the data, the details were released by ecommerce behemoth Amazon.com Inc. It comes just days after it said it would invest up to $4 billion in OpenAI's rival.
According to the report, Anthropic's latest funding could value the company at $30 billion, a prospect that has fueled interest in AI following other high hopes from Microsoft, Nvidia and Palantir.
Elsewhere, the continued adoption of crypto and blockchain has put investors at new highs on the future of the industry. Shiba Memu's AI-powered project sits nicely at the intersection of these two technological advances.
In fact, interest in this AI-powered meme token has seen its pre-sale attract impressive investment from around the world. Currently, that amount is $3.6 million, and even more could be sought after for this early-bird opportunity.
Learn more about Shiba Memu from the white paper or by joining the pre-sale here.
