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Shiba Inu gains while investors grab 50M Shiba Memu tokens on meme craze

  • Shina Inu has risen by over 6% amid positive Shibarium news.

  • Shiba Memu benefits from the meme craze as it raises $1.5 million.

  • Shiba Memu has huge potential from its AI application.

Meme cryptocurrencies continue to attract interest despite crypto markets remaining mixed. A few weeks after launching a presale, investors bought over 50,000,000 tokens of Shiba Memu (SHMU). The AI and blockchain-led project has generated nearly $1.5 million. Is this an indication of the growing popularity of meme cryptocurrencies?

Shiba Inu is the top gainer among the top 20 cryptos

Perhaps underlining the interest in meme cryptocurrencies is Shiba Inu. Unlike Shiba Memu, Shiba Inu has been in the meme space for a while. The cryptocurrency has attracted praise and criticism in equal measure. For critics, Shiba Inu carries little or no value. 

The delayed launch of Shibarium has been a particular source of criticism. Shibarium is expected to give Shiba Inu more utility. This includes powering the project’s metaverse dream. For enthusiasts, Shiba Inu can take on established blockchains and cryptocurrencies. 

As such, Shiba Inu has witnessed wild price swings on changing investor sentiment. However, Shiba Inu is the top-gaining cryptocurrency this week among the top 20 peers. In the past week, the cryptocurrency has added over 6%. The gains are about half its closest top gainer, BNB, with 3.30%.

The gains in Shiba Inu came when the Shibarium Beta Bridge went live for public testing. Enthusiasts have reacted to the developments, which suggest Shibarium is well on course. But meanwhile, Shiba gains underline that investors are still banking on tokens that drive overnight hype. The fast-selling Shiba Memu presale partly underlines this sentiment. 

Why is the Shiba Memu presale in high demand?

 Like any other meme cryptocurrency, Shiba Memu is benefiting from investor demand. These tokens rise at the slightest of news, returning big to its early movers. But Shiba Memu is crafting a niche that investors are banking on.

Shiba Memu is a self-marketing cryptocurrency. It leverages artificial intelligence to market itself and generate hype. By leveraging AI, Shiba Memu aims to become self-sufficient. This creates a unique investment opportunity as it can deliver consistent results. 

Shiba Memu enters the meme space when the application of AI is rising. There is no limit on what AI can do, meaning that Shiba Memu can become more intelligent and powerful. The project also learns every time, and being robotic-led, it can do more than humans. This gives the token a huge potential to explode as AI and blockchain become more pronounced.

What is the investment potential of Shiba Memu?

Meme cryptocurrencies are always an exciting asset class. They always surprise the market, pulling double and triple-digit returns in hours or a few days. In fact, meme tokens have grown so popular that their market cap crossed $20 billion in 2022. The market value was $0 in early 2020.

With the market growth, a huge potential lies in meme tokens like Shiba Memu. That also reflects a changing investment landscape where meme stocks and tokens are growing popular. Shiba Memu could ride the meme frenzy to become a strong and valuable cryptocurrency.

Apart from the market size and dynamics, Shiba Memu is the only meme cryptocurrency that is AI-led. Users can use the project’s AI dashboard to monitor hot and trending topics in creative advertising. This could also be a chance for users to engage the AI itself. They can ask questions, provide feedback, and give suggestions. The engagement could make Shiba Memu user-centric and drive value for the native token.

Shiba Memu price dynamics are unique

The desire to own Shiba Memu at presale is high as this will only be an 8-week affair. Within this period, the price of SHMU will have doubled from $0.011125 to $0.0244. This is because the price of SHMU increases every day at 6 pm GMT. It means investors that buy now are better off than 24 hours later. That potentially explains the fast happening presale.

The post Shiba Inu gains while investors grab 50M Shiba Memu tokens on meme craze appeared first on CoinJournal.

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Google Bard sets its Tezos price prediction for August

Tezos price has crawled back in the past few weeks even as the crypto fear and greed index remains in the neutral point. The XTZ coin was trading at $0.845, where it has been at in the past few days. This price is about 27% above the lowest level this year.

Google Bard’s XTZ forecast

Artificial Intelligence (AI) has become a major theme in the market following the success of ChatGPT. As a result, it has become more popular for people to ask AI platforms like Google Bard and Microsoft Assistant about anything. 

Therefore, I asked Google Bard what it thinks about Tezos and how the XTZ token will trade in August. The AI platform said:

“The forecast for Tezos in August is mixed. Some analysts believe that the price of XTZ could reach $1.00 by the end of the month, while others believe that it could fall to $0.75. The overall sentiment for Tezos is bearish, but there are some positive factors that could support the price, such as the upcoming Jakarta upgrade.”

If Google Bard is accurate, then it means that Tezos price could jump by about 20% from the current level. On the other hand, if the XTZ price retreat to $0.75, it means that the coin will drop by about 10%.

Tezos price analysis

Tezos, one of the best-known players in the blockchain industry, has faced numerous challenges. For one, the company has a minimal market share in key industries like decentralized finance (DeFi) and non-fungible tokens (NFT). 

Tezos has total value locked (TVL) of more than $73 million, making it the 35th biggest chain in the world. It has also seen its market share in the NFT industry diminish. 

Data by CryptoSlam shows that the total Tezos NFT sales in the past 24 hours stood at just $47k, making it the 12th biggest player in the world. Remember, Tezos has spent millions in advertising, including by sponsoring RedBull Racing.

I also expect that the Jakarta upgrade will have no impact on the Tezos price. As we saw in June, the Nairobi upgrade have minimal impacts on the coin.

How to buy Tezos

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

Buy XTZ with eToro today

Binance

Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

Buy XTZ with Binance today

The post Google Bard sets its Tezos price prediction for August appeared first on CoinJournal.

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Kenya suspends Worldcoin activities after nearly half a million sign-ups

  • The registration exercise for Worldcoin in Kenya took place at the Kenyatta International Convention Centre.
  • Registered users are entitled to 25 free Worldcoin tokens worth about $2 amounting to about Sh7000.
  • The Worldcoin activities in the countries have been suspended by the Ministry of Interior for security concerns.

The activities of Worldcoin, which launched on July 24, have been halted in Kenya after a thrilling uptake by the population. The Ministry of Interior has suspended the activities including registration citing security concerns.

On August 2, Kenya’s minister of internal security announced on Facebook that the country had suspended Worldcoin operations until relevant government agencies had verified that there were no risks to Kenyans. The statement from the cabinet secretary Ministry of Interior, Kithure Kindiki read:

“Relevant security, financial services, and data protection agencies have started inquiries and investigations to establish the authenticity and legality of the aforesaid activities… Appropriate action will be taken on any natural or juristic person who furthers, aids, abets or otherwise engages in or is connected with the activities afore described.”

The Capital Markets Authority (CMA) in Nairobi had also warned against the ongoing registration stating that Worldcoin and its products were not regulated under the Capital Markets Act.

Kenya is not the first country to question the safety of data collected by Worldcoin. France’s privacy watchdog has also questioned Worldcoin’s data collection and is currently investigating the crypto project.

Why are Kenyans so excited about Worldcoin?

Despite the privacy concerns, Kenyans have been trooping in thousands to the Kenyatta International Conference Center (KICC) in Nairobi and lining up for hours to have their eyeballs scanned for the 25 free Worldcoin (WLD) tokens which when exchanged translate to about Ksh7000.

Days after the new cryptocurrency project started registration in the country, media outlets were reporting that more than 350,000 individuals had registered.

The suspension news is a big setback for Worldcoin, which in an investor presentation had previously highlighted it had seen significant demand in Nairobi as a city. The presentation which was prepared in In December 2022, Worldcoin boasted of more than a quarter of a million sign-ups in Nairobi where it has 45 of its retina-scanning orbs positioned.

The post Kenya suspends Worldcoin activities after nearly half a million sign-ups appeared first on CoinJournal.