Dogecoin rallies by 10% this week: Will other meme coins follow suit?

Key takeaways

• Dogecoin is up by 10% over the last seven days, outperforming the broader market.

• Shiba Memu’s presale has officially crossed the $4.5 million mark.

The cryptocurrency market has had a poor week so far, with Bitcoin and Ether both underperforming. However, DOGE has been one of the best performers over the last few days. 

DOGE outperforms the market

DOGE, the native coin of the Dogecoin ecosystem, is one of the best performers amongst the leading cryptocurrencies by market cap. It is up by more than 7% in the last 24 hours, outperforming the broader market.

Several altcoins have been rallying over the past few weeks and meme coins might be warming up next. DOGE outperforming the market could see other meme coins like Shiba Inu and PEPE follow suit. 

What is Shiba Memu?

Shiba Memu is working to become one of the leading meme coins in the world. It is a Web3 project that seeks to combine the features and functions of blockchain technology and artificial intelligence (AI) to change how companies and individuals approach digital marketing. 

Shiba Memu will offer a wide range of services to marketers within the Web3 ecosystem and beyond. Some of the services it would offer include content creation, marketing, social media advertisement, and creative advertisement. 

Per the team, Shiba Memu will leverage AI to identify the best creative adverts and improve on them to provide superior content marketing services to users. 

The decision to launch as a meme token was because the development team sought to leverage the popularity of meme coins. Since 2021, meme coins saw their market caps grow from practically $0 to now stand at $35 billion.

While most meme coins lack use cases, Shiba Memu will be different. As a marketing meme coin, Shiba Memu will allow users to create marketing strategies, roll out PR schedules, and promote campaigns on relevant forums and social media platforms. Currently, the project is available on the Ethereum and BNBChain blockchains. 

Shiba Memu’s presale surpasses $4.5 million

The cryptocurrency market has had an excellent start to the month and this has reflected in the prices of most coins and tokens. Shiba Memu has continued its excellent presale performance, and the team has now raised more than $4.5 million.

Most of the funds generated via the presale would be channelled towards the development of the Shiba Memu products and services. The Shiba Memu AI technology is its most important product and will have priority over the others. 

The Shiba Memu marketing platform comes with a robotastic dashboard, allowing users to interact with the AI, provide feedback, make suggestions, ask questions, and more.

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

Bitcoin and other major altcoins have been underperforming this week. However, DOGE remains one of the best performers amongst the top 20 cryptocurrencies by market cap.

Despite the market performance, it is hard to accurately predict Shiba Memu’s price in the near term since the project is still in its presale stage. However, at the moment,  1 SHMU = 0.041500 USDT. The token’s price increases every day at 6 pm GMT and is set to trade at 0.041725 USDT per token in a few hours. 

At the start of the presale SHMU was trading at $0.011125, and it has seen a remarkable increase in price since then. The SHMU token can be purchased using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu or wait till the launch on exchanges?

The best times to invest in a project are during its presale or when there is a market pullback. This is because it is during those periods that tokens and coins are sold at discount prices. 

Shiba Memu has the potential to become one of the top meme projects in the world, thanks to its utility in the market industry. By using AI and blockchain technologies, Shiba Memu could offer massive utilities to companies and individuals carrying out marketing campaigns. 

Massive adoption of Shiba Memu could see its SHMU token record excellent gains once it starts trading on cryptocurrency exchanges.