The crypto market is seeing a new glimmer of hope as Bitcoin reached its highest point since May 2022, at $37,000, on Thursday. This has encouraged investors to bet on the potential of a spot ETF and helped the rest of the industry, as most cryptos remain in the green. The sentiment has been particularly positive for digital assets such as Shiba Memu (SHMU).
The presale of SHMU tokens has surpassed the $4.446 million mark, suggesting strong investor interest. This is due to the potential of a spot Bitcoin ETF, which is viewed as the primary driver of interest in digital assets. After reports that the SEC has opened discussions with Grayscale over the filing of a spot-product application, and Grayscale’s subsequent win in a complaint against the regulator, analysts are expecting a possible ETF approval to boost the Bitcoin price.
The strength of Bitcoin is a positive signal for the entire sector, and new projects such as SHMU are likely to attract interest and increase in price after listing. Meme cryptocurrencies are a new asset class that can be slow to move when a bullish trend begins, but investors are taking the opportunity to purchase tokens in anticipation of rapid market movements. SHMU is designed to be a sustainable project, as opposed to many of its peers which often face frequent pump and dumps.
SHMU features an AI dashboard that allows users to have meaningful conversations with the AI and query it about the latest marketing strategies. This engagement helps to increase the value of the company, as does the appeal of memes, which capture the attention of their followers and make projects more social.
The strong presale of SHMU tokens indicates a high level of interest in the project, and potential gains from post-listing are expected to be huge. Analysts have already lauded the token as a potential 10x investment. There is also a stake program, where investors can get a return on their staked tokens. This makes SHMU a potentially viable investment in 2023 and beyond.