- Bitcoin (BTC) and Ether (ETH) broke higher today and traded above $26,650 and $1,620, respectively.
- Maker (MKR) hit a yearly high near $1,470 amid renewed buying pressure.
- Meanwhile, Shiba Memu raised more than $3.3 million in its presale as SHMU’s price jumped to $0.030025.
Cryptocurrency market capitalization rose 1.3% Wednesday morning as top tokens Bitcoin (BTC) and Ether (ETH) cleared $26,650 and $1,620. The price gains came despite continued regulatory uncertainty, including the SEC’s delay on a spot bitcoin ETF decision and Chase Bank’s ban on crypto payments for its UK customers. U.S. futures also recovered after Tuesday’s brutal sell-off, which coincided with the Dow Jones Industrial Average’s largest single-day drop since March.
Below are price outlooks for Bitcoin (BTC) and Maker (MKR), plus an overview of the new crypto project Shiba Memu (SHMU).
What is Shiba Memu?
Shiba Memu is a new entrant to the meme coin space that blends cryptocurrency and artificial intelligence (AI). The project aims to take a different route to community traction by using AI to power marketing and engagement rather than relying solely on organic, human-driven momentum.
Instead of depending on volunteers and social hype, Shiba Memu plans to deploy AI to handle many of the repetitive and labor-intensive tasks required to sustain interest in a meme token. The system is designed to reward holders of the native SHMU token for participating and providing feedback.
More information is available from the project’s materials.
Bitcoin price outlook
Bitcoin has been relatively flat over the past week, down about 1.6% at the time of writing as investor caution capped buying amid lingering uncertainty about the Fed’s “higher for longer” interest-rate stance. With regulation still an open issue, some analysts have warned bulls could struggle before a sustained uptrend begins with the next major bullish cycle.
Short term, the approaching $3 billion options expiry on September 29 could add fresh downward pressure. BTC trading near $26,770 suggests possible attempts to challenge the important zone around $28,300. Conversely, a broad shift in risk appetite could push prices back toward support around $25,000. A move below that would put the $20,000 area squarely in the bears’ sights.
Maker price outlook
Maker outperformed many leading altcoins over the past week, with MKR rising nearly 10% in the last 24 hours. The token is trading above $1,450 — a one-year high reached after breaking the key horizontal resistance at $1,250.
Bullish signals across MKR charts point to potential upside toward $1,600. However, an unexpected reversal could prompt a pullback to support near $1,350.
Shiba Memu price outlook: Could SHMU reach $1 in 2024?
Shiba Memu is not yet trading on secondary markets; its token remains in presale. With rising interest in the meme coin amid broader enthusiasm for AI-focused projects, SHMU’s price could spike once trading starts on major exchanges.
Early investors who bought SHMU in the first presale phase at $0.011125 have seen gains of more than 169% as the token price climbed to $0.030025 following more than $3.3 million in presale contributions.
Which factors could drive Shiba Memu’s price?
Shiba Memu’s roadmap highlights Q1 2024 as the target window for launching its AI control dashboard, with strategic partnerships and ecosystem development planned to continue through Q2. The project expects a rollout to global exchanges in Q3 2024, which it says could materially increase demand for SHMU if the token’s early momentum translates into listing interest similar to previous meme coin surges.
The presale’s final price of $0.0379 indicates upwards pressure amid FOMO buying ahead of any broader crypto market rally. If momentum holds, SHMU could move toward $0.05 and then $0.10, with more ambitious scenarios targeting $0.50 and $1.00 for holders farther down the line. As always, such outcomes depend on continued development, successful exchange listings, and sustained community interest rather than guarantees.