- Bitcoin (BTC) and Ether (ETH) saw prices rise today, now trading above $26,650 and $1,620 respectively.
- Maker (MKR) reached a yearly high near $1,470 amid renewed buying pressure.
- Meanwhile, Shiba Memu raised more than $3.3 million during its presale as the SHMU price climbed to $0.030025.
The total cryptocurrency market capitalization increased by 1.3% Wednesday morning, led by gains in major coins Bitcoin (BTC) and Ether (ETH), which traded above $26,650 and $1,620 respectively.
Cryptocurrency prices rose even as the industry awaits the SEC’s delayed response regarding a spot Bitcoin ETF and following Chase Bank’s decision to block crypto payments for its U.K. customers. Digital assets also benefitted from gains in U.S. futures after Tuesday’s sharp sell-off, which sent the Dow Jones Industrial Average to its largest single-day loss since March.
Below are price outlooks for Bitcoin (BTC) and Maker (MKR), along with an overview of the new crypto project Shiba Memu (SHMU).
What is Shiba Memu?
Shiba Memu is a recently launched token project that combines cryptocurrency with artificial intelligence (AI) to create a different approach to building traction—an essential element for meme coin adoption.
Unlike many meme tokens that rely primarily on manual community-driven promotion, Shiba Memu aims to use AI as an automated marketing engine. The AI will handle marketing tasks designed to sustain interest in the token and will reward holders of the native SHMU token for contributions and feedback.
The project positions AI as a scalable way to maintain momentum and community engagement without depending exclusively on manual campaigns.
Bitcoin price forecast
Bitcoin has been relatively subdued over the past week, down about 1.6% at the time of writing, as investor jitters have limited buying amid lingering uncertainty following the Fed’s recent “higher for longer” interest rate guidance.
Regulation remains a key talking point, and analysts warn that bulls could face a setback before a sustained uptrend begins. Near-term, the upcoming $3 billion options expiry on September 29 could add downward pressure. With BTC around $26,770 at the time of writing, renewed attempts toward the key $28,300 area remain possible. Conversely, a broader risk-off shift could test support near $25,000, while $20,000 remains a downside target for bears.
Maker price forecast
Maker has outperformed many top altcoins over the past week, with MKR rising nearly 10% in the last 24 hours. The token trades above $1,450, its highest price of the year after breaking above a key horizontal resistance near $1,250.
Bullish indicators across MKR charts suggest a move above $1,600 is possible. However, an unexpected shift in momentum could push the price back toward support around $1,350.
Shiba Memu price outlook: Can SHMU reach $1 in 2024?
Shiba Memu is not yet listed on secondary markets, as the token remains in presale. Still, rising interest in meme coins—combined with growing optimism around AI—could drive SHMU’s price higher when the token eventually lists on major exchanges.
Early presale investors who bought SHMU at $0.011125 have already seen gains of more than 169%, driven by the token’s rise to $0.030025 as investors contributed over $3.3 million to the project during presale.
Factors that could support Shiba Memu’s price
Shiba Memu’s roadmap targets the launch of its AI dashboard in Q1 2024, with strategic partnerships and ecosystem development continuing into Q2. The project plans exchange listings in Q3 2024, which could significantly increase demand for SHMU.
If the token lives up to current hype and attracts strong market inflows similar to those seen in other meme coins, Q4 2024 could be an attractive period for SHMU holders. A final presale price of $0.0379 suggests that FOMO-driven buying ahead of a potential broader crypto bull market could push SHMU to $0.05 and then $0.10, with further upside scenarios pointing to targets of $0.50 and $1 under highly favorable conditions.
As with all speculative tokens, investors should exercise caution, perform their own research, and consider risks before participating in presales or buying newly listed tokens.