That increases institutional interest in altcoins
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The cryptocurrency market has underperformed in the past few hours, but that hasn't stopped investors from taking interest in various crypto projects. Shiba Memu's pre-sale has now officially surpassed $3.5 million, and the team is close to reaching their goal for this round.
Grayscale takes another bold step into the market
A few hours ago, Grayscale Investments announced that it has partnered with NYSE Arca to convert the Grayscale Ethereum Trust (ETHE) into a spot ethereum ETF from the US Securities and Exchange Commission (SEC).
Currently, the company's Ethereum Trust is the largest Ethereum investment product in the world, with nearly $5 billion in assets under management. Grayscale made a similar move with its Bitcoin Trust product and is now awaiting SEC approval to switch to a spot Bitcoin ETF.
What is a Shiba Memu?
Paralyzed Meme is a meme token project that continues to generate interest despite the current market conditions. It has passed the $3.5 million mark after pre-sales topped $500k in the last two weeks.
It is a meme token project that develops a platform to harness the power of AI and blockchain technology to create an unstoppable, fully autonomous trading power.
The group explained that Shiba Memu does the work of several marketing agencies. The AI on the platform means Shiba Memu works 24/7 to generate engaging content for companies and individuals to market their products and services.
Shiba Memu is launching as a meme project looking to ride the recent popularity of meme coins. Over the past three years, the market value of meme coins has grown from practically $0 to $20 billion by 2022.
However, Shiba Memu doesn't want to be like other meme coins because it has a real-world use case. Shiba Memu has utility and solves real-world problems for companies and individuals.
According to the team's white paper, Shiba Memu comes with AI-powered autonomous marketing features. The platform develops its own marketing strategies, writes its own PR and promotes itself in the relevant platforms and social networks.
For starters, Shiba Memu runs on two major blockchains, Ethereum and BNB Chain
Shiba Memu pre-sale is more than 3.5 million dollars
Shiba Memu's pre-sale has now officially passed the $3.5 million mark as investors continue to show interest in the project. The project has raised over $500k in two weeks, indicating strong value among investors.
The team has always maintained that the funds raised in the pre-sale rounds will be used for the development of some of Shiba Memu's products. As Shiba Memu AI technology is the platform's flagship product, it will be the primary recipient of funds generated from pre-sale events.
Click here to learn more about Shiba Memu's pre-sale event.
Should you invest in Shiba Memu before this pre-sale phase ends?
The crypto market has been expanding in recent weeks, but that hasn't dampened interest in Shiba Memu. The pre-sale price of the project continues to generate interest from investors.
As investors prepare for the next Bitcoin halving in 2024, they are in for some interesting projects. Shiba Memu may be one of the projects to benefit from the next bullish cycle.
Market analysts are now expecting Bitcoin and other cryptocurrencies to rally in the next few months. SHMU could be a big winner because of its value proposition for investors and consumers. Once the project is launched and the token is listed on crypto exchanges, the volume may increase.
