Memecoin resurgence fuels interest in Pepe, Floki and Shiba Memu

2023-10-28 13:54

Memecoins have shown a remarkable resurgence in the past few weeks as the crypto market enjoyed an uptrend catalysed by positive sentiment around the top cryptocurrency Bitcoin.

Meanwhile, investors keen to tap into what could be the next big meme project are aggressively buying Shiba Memu (SHMU). The new memecoin’s presale has attracted huge interest in the past month amid crypto’s October gains.

Pepe and Floki go vertical as memecoins rally

Memecoins took a beating in the aftermath of fresh negative sentiment across crypto in the summer. However, Bitcoin’s rally earlier this week has seen a lot of profits redistributed to the altcoin market, with Pepe and Floki among the top beneficiaries as the sentiment around meme tokens flipped bullish.

As of October 28, the memecoin market was up 20% this past week, and Pepe (PEPE) and Floki (FLOKI) were the standout performers. The two tokens were outperforming Dogecoin and Shiba Inu and most top 100 altcoins with parabolic moves of 79% and 84% respectively.

Although it remains to be seen how things plays out ahead of an anticipated bull market, meme renaissance is a signal that this crypto section is here to stay. That appeal could perhaps find its newest roots in Shiba Memu.

What is Shiba Memu?

As far as meme-inspired projects go, Shiba Memu is the latest that wants to stand out from the crowd. Multiple tokens simply hype a dog-themed or frog-themed imitation, but that’s not Shiba Memu. Leveraging artificial intelligence and blockchain technology, the project seeks to create a self-sufficient marketing powerhouse.

About 85% of the 1 billion SHMU tokens are available in presale as the team looks to offer early backers an opportunity.

In terms of how the project works, the strategy is simple: tap into an AI dashboard to create the biggest AI meme. The platform will be powered by natural language processing, predictive analytics, sentiment analysis and image and video recognition.

With this, Shiba Memu aims to tailor every marketing opportunity towards promoting the native SHMU, bringing it to the market 24/7.

Unlike most meme tokens, community traction for this project is expected to be independent of the sporadic hype that comes with news events and influencer activity. A lot of meme tokens take this type of approach to engagement and the result is massive fluctuation in sentiment – the price impacted as celebrity validations die off.

Should you buy Shiba Memu as presale draws to a close?

Analysts have variously predicted that Bitcoin is on the cusp of a fifth bull market. One prediction is that BTC could hit $125k by the end of 2024.

Investors, aware that crypto remains a wild market but with great investment opportunities, are taking positions. Meme coins are resurfacing amid this outlook as well as huge predictions for AI stocks, and Shiba Memu could prove one of the breakout presale projects.

What’s the project’s appeal? As noted, it could be Shiba Memu’s fresh approach to memenomics and the extra layer of holder incentives. Apart from staking and liquidity provision, holders can benefit from a deflationary mechanism augmented with a SHMU burn program.

SHMU price could thus benefit from massive buy pressure right from when it goes live on major crypto exchanges. Per the roadmap, (accessible here) this should be in the first quarter of 2024. But Shiba Memu could be a great buy today as low presale prices align with possible parabolic gains if crypto embarks on a bull market as anticipated.

This token sale offer is currently on a countdown of just three days – meaning the opportunity to buy at presale prices ends on October 31.

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