Key points
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XRP surged more than 70% on Thursday after a favourable ruling in Ripple’s legal case against the U.S. Securities and Exchange Commission (SEC).
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Shiba Memu’s presale is approaching $800,000 as more investors enter the market.
The cryptocurrency market was strongly bullish over the past 24 hours, with the prices of most coins and tokens trading in the green.
Shiba Memu’s presale also performed very well and is now on track to reach the $800,000 level as additional investors commit funds.
XRP and XLM rally to new highs
XRP, the native token of the Ripple ecosystem, jumped more than 70% on Thursday following a favourable development in the ongoing Ripple vs. SEC legal case.
A U.S. District Court for the Southern District of New York ruled that Ripple’s sales of XRP on exchanges and through algorithmic trading did not constitute investment contracts. The decision was issued a few hours earlier.
However, the judge also found that institutional sales of XRP did violate federal securities laws.
The partial victory for Ripple was welcomed across the crypto ecosystem, with XRP climbing to a yearly high of $0.84 on Thursday—an increase of more than 70% in that process. At the time of writing, Ripple’s price stood at $0.7857.
XLM, the native token of the Stellar Lumens ecosystem, rose by more than 50% following the Ripple announcement. BTC, ETH, Solana and Polygon also posted strong gains over the past 24 hours.
What is Shiba Memu?
Shiba Memu, still in presale, is capitalizing on the current market rally. Its presale hit a new milestone a few hours ago as more investors entered the project.
Shiba Memu is a crypto token that combines artificial intelligence and blockchain technology to create an autonomous and self-sustaining marketing engine.
According to its white paper, the Shiba Memu team claims the project can perform the work of many marketing agencies. As an AI-driven platform, Shiba Memu continuously identifies top-performing creative marketing, refines it and re-delivers improved versions.
The project builds on the recent popularity of meme coins, a sector that has grown into a multi-billion-dollar segment of the crypto industry. Over the past three years, meme coin market capitalisation expanded dramatically from near zero to billions.
Shiba Memu distinguishes itself from hundreds of other meme tokens by offering tangible utility and addressing real-world user needs.
Its white paper describes self-sufficient marketing capabilities powered by AI, positioning Shiba Memu as a differentiated and potentially attractive investment opportunity.
Shiba Memu will develop its own marketing strategies, create PR content and promote itself across relevant forums and social networks.
The project currently operates on Ethereum and BNB Chain, two leading DeFi and smart-contract blockchains in the crypto space.
Shiba Memu presale nears $800,000
Shiba Memu’s presale contributions more than tripled over the past seven days. Last week the presale total stood at $215,000 and it has since grown to $798,247.
The increase in funding is attributed to more investors entering the market and backing the project.
The Shiba Memu team said funds raised in the presale will be used to develop key products. A large portion of proceeds will be allocated to building Shiba Memu’s AI technology.
Learn more about the Shiba Memu presale.
Should you invest in Shiba Memu today?
The cryptocurrency market has delivered strong performance so far this year, with many coins and tokens rising by close to 50% year-to-date.
However, the market remains more than 50% below the all-time highs set in 2021. Market analysts expect Bitcoin and other major cryptocurrencies to continue recovering over the medium to long term.
Whether to invest in a token is a decision for each investor. After the project launches and the token lists on exchanges, Shiba Memu could become a significant winner if it achieves broad adoption.
By combining AI and blockchain to streamline marketing for businesses and organisations, the SHMU token could appreciate over the coming months and years if the project gains meaningful traction.