Memecoins and AI have been two of the biggest trends of 2021. Dogecoin, a proof-of-work cryptocurrency popularized by Elon Musk, has seen incredible success, and since then, many meme tokens like Pepe and Keke have been created and have become multi-million dollar projects. AI companies such as Nvidia and C3.ai have also seen their stocks jump by double digits. Shiba Menu (SHMU), a new meme coin intersecting both meme coins and AI, has raised over $449k in the past few days.
What is Shiba Menu?
Meme coins are a type of cryptocurrency that started to become popular this year. Unlike traditional currencies, these tokens are unique and often have no underlying utility. The most successful ones are Pepe and Keke, which have gone from nothing to becoming tokens valued at over $500 million. Shiba Menu is a new meme coin that is merging meme coins and AI. The project’s white paper states that it is an AI-powered, self-marketing cryptocurrency that will be able to use AI to create its own PR and multi-platform marketing materials.
Potential Catalysts for Shiba Menu
There are three main potential catalysts for Shiba Menu. Firstly, cryptocurrencies are forecast to do well this year, especially if Bitcoin breaks the key resistance at $31,200. Secondly, the success of other meme coins like Dogecoin, Pepe, and Shiba Inu could create hype around Shiba Menu, especially after it has raised over $400k in a few weeks. Finally, Shiba Menu has the potential to benefit from the popularity of both AI and meme coins.
Is Shiba Menu a Good Buy?
Investing in token presales and ICOs is always risky and caution should be taken. Therefore, while Shiba Menu is likely to do well, it is recommended to only invest a small portion of your funds into the token. This will give you exposure to the upside while limiting your potential risks.
