SHMU is set to take advantage as the alt season takes shape.
The recent rise in the price of Bitcoin has helped a large altcoin boom. Bitcoin's price rose above $44,000 this week for the first time since April 2022, giving it a market cap of more than $800 billion. This rally raises the possibility that Bitcoin will retest its all-time high above $67,000 in the coming years.
The Altcoin season is underway.
Some analysts believe Bitcoin will jump above $100,000 by 2024 due to the upcoming halving, possible interest rate cuts by the Federal Reserve and approval of the Bitcoin ETF space.
Half will be in April 2024. In most cases, BTC tends to rise before that event. Meanwhile, most economists believe the Federal Reserve will start cutting interest rates in the first half of the year.
The futures market predicts that the Fed will cut rates by 0.25% in March 2024 and then deliver at least two more per year. Bitcoin and other cryptocurrencies thrive in high interest rates.
Another important boost is the Securities and Exchange Commission's (SEC) review of a spot Bitcoin ETF. Most analysts believe the agency will eventually approve the product because companies like BlackRock and Invesco have addressed the concerns.
Additionally, these companies have a long history of underwriting and managing ETFs. BlackRock has more than $9.2 trillion in assets, while Invesco has more than $1.47 trillion. Franklin Templeton has over $1.5 trillion in total assets. As such, these are some of the best experts on ETFs.
So, all these factors will generate more income in both Bitcoin and altcoins like Ethereum, Cardano and Polygon. We've seen the alt season continue with tokens like Solana, Bonk, Shiba Inu, and Marinade Finance on the rise.
Shiba Memu to benefit from this parade
A key theme we have seen recently is the proliferation of key meme coins such as Lady Meme Coin (LADYS), Bonk and Pepe. These tokens are now worth millions of dollars and have made many millionaires along the way. Bonk is valued at over $600 million while Pepe is worth over $500 million.
All this means that there is a room for more meme coins in the market. Shiba Memu demonstrates this with the developers having raised over $4.7 million from investors, indicating that there is demand for the token.
Shiba Memu is an upcoming crypto token at the intersection of meme coins and artificial intelligence, a technology that has become popular this year. It aims to grow using AI to market itself.
The Shiba Memu token will be listed on key exchanges after the presale period ends. Most analysts believe that if the altcoin season accelerates, then the price will jump significantly. You can buy a Shiba Memu token here.
