The cryptocurrency market has been highly bullish over the past 24 hours, with the prices of most coins and tokens in the green zone. XRP and XLM, the native coins of the Ripple and Stellar Lumen ecosystems, respectively, both rallied to new highs. Shiba Memu’s presale also nears the $800k mark.
XRP gained more than 70% on Thursday following a favourable ruling in Ripple’s legal case against the US Securities and Exchange Commission (SEC). The U.S. District Court of the Southern District of New York ruled that the sale of Ripple’s XRP tokens on exchanges and through algorithms did not constitute investment contracts. However, the judge also ruled that the institutional sale of the tokens did violate federal securities laws. The price of XRP is currently at $0.7857.
XLM, the native coin of the Stellar Lumen ecosystem, also surged by more than 50% following the Ripple announcement. BTC, ETH, Solana, and Polygon recorded excellent gains over the last 24 hours as well.
Shiba Memu, although still in its presale stage, is included in the ongoing market rally. The platform is always working to find the best work going on in creative advertising, eating it up and spitting it back out, but better. The presale investment has more than tripled over the past seven days. Last week, the presale investment was at $215,000 and is now at $798,247. The Shiba Memu team said they would use the funds generated from the presale for developing some of their products.
The decision to invest in a token depends on the investor. Shiba Memu could be a big winner once the project launches and the token gets listed on cryptocurrency exchanges. The project combines AI and blockchain technology to ease marketing strategies for companies and organisations. If the project gets the right level of adoption, its SHMU token could rally higher over the next few months and years.
