Shiba Memu is a new meme coin that’s leveraging the AI revolution, and its presale has raised more than $3.8 million. While Dogecoin (DOGE) still tops meme coins, its price has been struggling as daily transactions sink. Here, we examine the price outlook for both tokens amid a broader lull in the crypto market in the wake of the latest US inflation report.
Shiba Memu combines the AI narrative and blockchain technology to create a unique approach to crypto memes. The native token SHMU has a supply of 1 billion tokens, 85% of which is available to the community via the presale. The AI dashboard will take care of marketing, with SHMU holders benefiting from token staking and provision of liquidity to the Shiba Memu pool.
Dogecoin has a market cap of nearly $8.2 billion, and has attracted support from the likes of Elon Musk. However, it has been unable to break the $1 level, and its all-time high of $0.73 was reached in May 2021. Currently, Dogecoin price has settled below $0.58, with the 7-day average of daily transactions having dropped sharply from 2.1 million in June to 37.3k.
An event around the dog meme that inspired Dogecoin is scheduled for November 2, and if its price picks up in a bull market, the key short term target remains $1. For Shiba Memu, the presale price has increased daily to $0.0334, and if it does a 2x after its launch, that could push its price to above $0.1, with a potential for it to reach the $1 level by 2024.
