American stocks have suffered a sell-off this week as risks rose, but cryptocurrencies have proven more resilient in the face of the challenging environment. The Shiba Memu token sale has seen accelerated growth, raising over $3.36 million in recent weeks.
The stock market has been a sea of red this week, with the fear and greed index falling to its lowest level in months and the US dollar index reaching $106.7. The iShares 20 Plus Year Treasury Bond ETF has dropped to its lowest point since 2014, falling by over 17% from its highest point this year. The small-cap Russell 2000 index has also moved into correction zone, dropping by more than 12% since its peak this year. Commodities have also retreated, as investors remain wary of potential action by the Federal Reserve, which is looking to hike interest rates to 5.7%.
Cryptocurrency prices have held up relatively well, with Bitcoin remaining above $26,000 and total market cap of digital coins staying above $1 trillion. Other coins like Chainlink, Tron, and Terra Luna have been relatively stable.
The Shiba Memu token sale has continued to gain momentum. Its success may have been driven by Amazon’s recent $4 billion investment in Anthropic, a company in the generative AI industry. The project has AI features, aiming to become a leading player in the meme coin and AI space, and using technologies like neural language processing and regression models.
Given recent success with Shiba Inu and Bonk, there is a chance that Shiba Memu will create many wealthy people. However, like all assets, especially cryptocurrencies, there are always risks. Investors should manage their risks carefully, only investing funds they are comfortable to lose.