Key takeaways
XRP, XLM and LINK added more than 20% to their values over the past seven days, outperforming Bitcoin.
Shiba Memu has now raised more than $1 million in its presale.
XRP, XLM and LINK have been the best performers amongst the top 50 cryptocurrencies by market cap over the past few days.
Their performance has seen Bitcoin’s dominance drop below the 50% mark. Investors are now speculating whether the altcoins season is here, with altcoins outperforming Bitcoin since the start of the month.
XLM, XRP, and LINK lead the altcoins rally
XRP, the native coin of the Ripple ecosystem, has been the biggest winner so far this month. XRP added more than 70% to its value since the start of the month, thanks to a favourable ruling in the Ripple vs. SEC case.
Stellar Lumen’s XLM also rallied by more than 50% this month, thanks to XRP’s positive performance. With XRP not considered a security, XLM became bullish as it is XRP’s major competitor in the market.
LINK, the native coin of the Chainlink blockchain, also rallied by more than 20% this week. The rally was fueled by Chainlink’s release of its CCIP protocol as it expanded its base within the ecosystem.
With altcoins outperforming Bitcoin in recent weeks, market participants could be wondering whether the altcoins season is finally here.
Shiba Memu’s presale also continues to set new records. The team has now raised more than $1 million, with only 36,406,652 tokens left in this presale round.
What is Shiba Memu?
Shiba Memu is a meme coin project that seeks to differ from the current crop of meme coins found in the cryptocurrency space by offering more value to users.
While the project is still in its presale stage, its promised utility has seen investors grab more than $1 million worth of its native SHMU token.
According to their whitepaper, Shiba Memu is a cryptocurrency that combines AI and blockchain technology to develop an unstoppable, entirely self-sufficient marketing powerhouse.
The team revealed that Shiba Memu has the capacity to execute the work of 100 marketing agencies. Furthermore, Shiba Memu is an active AI-based platform, providing users with the transparency of blockchain technology and the efficiency of AI.
If deployed, the Shiba Memu platform actively engages to find the best work going on in creative advertising, consumes the work and churns out far better results.
The Shiba Memu team decided to leverage the recent popularity of meme coins. Meme coins have become an important part of the cryptocurrency ecosystem. The total meme coin market cap grew from practically $0 to reach the $20 billion mark in 2022.
The Shiba Memu team revealed the platform has self-sufficient marketing capabilities powered by AI technology. When deployed, Shiba Memu will develop its own marketing strategies, write its own PR, and promote itself in relevant forums and various social media platforms.
At the moment, Shiba Memu operates on Ethereum and BNB Chain, the two leading DeFi and smart contract blockchains.
Shiba Memu’s presale tops $1 million
Despite the current market conditions, Shiba Memu’s presale event has been going excellently. Shiba Memu’s presale investment has increased by more than $200k over the past few days, with more than $1 million raised so far.
Shiba Memu has been attracting interest from investors thanks to the latest rally by altcoins.
The team revealed that the funds generated from the presale would be used to develop some of their products. They have allocated most of the funds to the development of the Shiba Memum AI technology.
Click here to find out more about Shiba Memu’s presale event.
Should you invest in Shiba Memu today?
Bitcoin’s dominance in the market has decreased in recent days, with altcoins like XRP, XLM and LINK experiencing massive surges in prices.
With more interest in altcoins, investors could be looking for new exciting projects in the cryptocurrency space. Shiba Memu could be one of the projects investors look to.
By combining the power of blockchain technology and AI, Shiba Memu promises to be a unique project. The platform will look to ease marketing strategies for companies and organisations.
If the project gets the right level of adoption, its SHMU token could rally higher in the coming months and years.
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