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The presale of the new Shiba Memu, a new artificial intelligence (AI) powered meme coin, is gathering momentum by the day amid a positive meme coins market sentiment led by Doge Killer (LEASH) which has surged by 36% in the last week.

The meme coin market has exploded with its market capitalization growing from $0 in early 2020 to over $20 billion in early 2022. The main reason behind the exponential meme coin market explosion is the growing number of meme coin projects that have gone ahead to attract a lot of hype.

Doge Killer (LEASH) is one of the many dog-themed meme coins. The token was launched to compete with Dogecoin (DOGE) which took the crypto market by storm in 2021.

The LEASH is part of the Shiba Inu (SHIB) ecosystem along with another cryptocurrency called Bone ShibaSwap (BONE). Doge Killer actualized Shiba Inu’s nickname “Dogecoin Killer” and it has maintained that slogan to date through its growing community and massive price surge that has seen the price jump above $417, way above any meme coins.

Although Doge Killer’s price is down 9.6% today, the meme coin has been on a very strong bullish trend in the past seven days that has seen it price go above $410.

A majority of technical indicators including the exponential moving averages (EMA) point to a bullish LEASH trend at least for the next few days.

However, LEASH needs to stay above the $388.85 level for it to have a chance at its first major resistance level of $454.57. If it surges above $454.57 and sustains a significant price rally, it could test the next major resistance level at $524.66 and even have a shot at $618.57.

However, if the Doge Killer price drops below $388.85, it could dip towards the second major support level at $295.19.

According to the market analysis, the 14-day relative strength index (RSI) of the LEASH is currently at 68.33, indicating Natural conditions in the market without being oversold or overbought. Similarly, the weekly chart’s relative strength index (RSI) is at 44.77, also indicating natural conditions in the market.

Shiba Memu (SHMU) is a meme coin that aims to capitalise on both the market’s hype around artificial intelligence (AI) and the current meme coin craze.

Shiba Memu uses AI-based software to create its own PR, promote itself on relevant forums, and learn from successful marketing techniques. The Shiba Memu coin will develop over time, becoming progressively more intelligent and potent as it moves towards dominating the cryptocurrency market.

By combining the two technologies (blockchain and AI) Shiba Memu positions itself at a superior level compared to other Shiba-themed meme coins. In addition, its self-sufficiency, and complete transparency offer investors a special potential by utilising AI to improve its marketing capabilities.

Shiba Memu is currently in the development stage awaiting its mainnet launch in Q1 2024. The team behind the project has already launched the Shiba Memu token on Ethereum and Binance Smart Chain (BSC) blockchains.

The team is now conducting a presale for the native token, SHMU, which has been allocated 85% of the total SHMU token supply.

Besides, completing the Shiba Memu token presale, the team also aims at having the token listed on a decentralized exchange and launching a staking program to encourage community participation and engagement by the end of Q3 2023.

The SHMU value is set to double in price throughout the presale. It started at $0.011125 and it is expected to end at $0.0244. At press time, one SHMU was going for $0.012475, with a price change set to take place in the next 10 hours.

The post Shiba Memu presale gathers steam amid positive Doge Killer (LEASH) market sentiment appeared first on Invezz.

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