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Shiba Memu is a new crypto that is at the intersection of meme coins and AI.
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The developers have raised over $450k in less than two weeks.
Memecoins and artificial intelligence have been some of the most popular themes this year. New meme tokens like Pepe and Keke have grown from nothing into some multi-million dollar cryptocurrencies. On the other hand, AI companies like Nvidia and C3.ai have seen their shares jump by double digits. Shiba Memu, a new meme coin that is at the intersection of meme coins and AI, has also raised over $449k in the past few days.
What is Shiba Memu?
Meme coins are unique cryptocurrencies that started to boom in 2021. Their performance did well after the success of Dogecoin, a proof-of-work coin that was promoted heavily by Elon Musk, the richest man on the planet. Since then, many meme tokens have come up, with the most popular ones being Shiba Inu, Floki Inu, and Dogelon Mars.
Several meme coins have come up this year, with the most successful ones being Pepe and Keke. Pepe has gone from nothing to becoming a meme coin valued at over $500 million. It has created many millionaires along the way.
Shiba Memu (SHMU) is a new meme coin that is seeking to capitalize on the ongoing success of meme coins and artificial intelligence. According to its white paper, Shiba Memu is an AI-powered, self-marketing cryptocurrency. It will use AI to come up with marketing strategies, including writing its own PR.
Unlike many other meme coins that have no meaningful utility, Shiba Memu will create its utility over time. For example, it will be the only meme coin that can create its own marketing materials like PR and multi-platform marketing materials.
Potential catalysts for Shiba Memu
There are three main potential catalysts for Shiba Memu. First, there is a likelihood that cryptocurrencies will do well this year. This probability will increase if Bitcoin manages to move above the important resistance at $31,200. If this breakout happens, there is a likelihood that other tokens will rise as well.
As I wrote in this article on Tuesday, analysts at Standard Chartered expect that Bitcoin could jump to $120k. If this happens, there is a likelihood that other coins and tokens, including Shiba Memu will rise as well.
Second, Shiba Memu could rally because of the meme coin hype. After the success of key tokens like Pepe and Shiba Inu, many traders are constantly in search of the next big thing. After raising over $400k in a few weeks, there is a likelihood that the token will generate hype.
Finally, Shiba Memu is taking advantage of two hyped industries like AI and meme coins. Traders love such assets, as evidenced by the recent performance of key assets like Nvidia. You can buy Shiba Memu using this link.
Is Shiba Memu a good buy?
Investing in token presales and Initial Coin Offerings (ICO) is always risky and calls for caution. As such, while I expect Shiba Memu to thrive, I recommend caution. This means that you should only invest a small portion of your funds into the token. Doing this will give you exposure to the upside while limiting your potential risks.