Key points to remember
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XRP surged more than 70% on Thursday following a favorable ruling in Ripple’s legal case against the U.S. Securities and Exchange Commission (SEC).
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The Shiba Memu presale is approaching $800,000 as an increasing number of 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 approaching the $800,000 mark as more investors join the round.
XRP and XLM rally to new highs
XRP, the native token of the Ripple ecosystem, jumped more than 70% on Thursday after a favorable decision in the ongoing Ripple vs. SEC case.
The 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.
However, the judge also found that Ripple’s institutional sales of XRP did violate federal securities laws.
The partial win for Ripple was well received across the crypto ecosystem, driving XRP to a one-year high of $0.84 on Thursday and boosting its value by over 70% during the move. At the time of writing, the price of Ripple stood at $0.7857.
XLM, the native token of the Stellar Lumens ecosystem, also climbed more than 50% following Ripple’s news. BTC, ETH, Solana and Polygon likewise posted strong gains over the past 24 hours.
What is Shiba Memu?
Shiba Memu, still in presale, is participating in the ongoing market rally. Its presale reached a new milestone recently as more investors joined the project.
Shiba Memu is a cryptocurrency token that combines artificial intelligence and blockchain technology to deliver an autonomous marketing engine designed to streamline and scale promotional efforts.
According to the project’s white paper, Shiba Memu aims to perform the workload of many traditional marketing agencies by leveraging AI-driven approaches, while remaining an active, evolving platform.
The platform continuously seeks optimal outcomes in creative advertising, iterating on campaigns and refining performance to improve results over time.
Shiba Memu taps into the recent popularity of meme coins, a market segment that grew into a multi-billion dollar niche within the crypto industry. Over the past three years, meme coin market capitalization rose from nearly zero to $20 billion in 2022.
Unlike many other meme coins, Shiba Memu emphasizes real utility and intends to solve practical problems for users.
The white paper highlights Shiba Memu’s autonomous marketing capabilities powered by AI, positioning the token as a distinctive and potentially attractive investment opportunity.
Shiba Memu will develop its own marketing strategies, generate its own public relations content, and promote itself across relevant forums and social channels.
The project currently operates on Ethereum and the BNB Chain, two major blockchains for DeFi and smart contract ecosystems.
Shiba Memu presale nears $800,000
Investment in the Shiba Memu presale has more than tripled over the past seven days. Last week, presale funds totaled $215,000; the figure now stands at $798,247.
This increase in funding reflects a growing number of investors entering the market and allocating capital to the project.
The Shiba Memu team says it will use presale proceeds to develop core products, with the majority of funds allocated to advancing Shiba Memu’s AI technology.
Click here to learn more about the Shiba Memu presale event.
Should you invest in Shiba Memu today?
The cryptocurrency market has performed well year-to-date, with many coins and tokens rising nearly 50% during this period.
Nonetheless, the market remains more than 50% below its 2021 all-time highs. Market analysts expect Bitcoin and other cryptocurrencies to recover over the medium to long term.
Whether to invest in any token is a personal decision that depends on an individual’s risk tolerance and investment goals. That said, Shiba Memu could become a notable performer once the project launches and the token is listed on exchanges.
By combining AI with blockchain technology to streamline marketing strategies for companies and organizations, Shiba Memu’s SHMU token could appreciate if the platform achieves meaningful adoption over the coming months and years.