Kategorie: Crypto Analysis

• Shiba Memu is a self-marketing crypto project powered by AI

• The entry in Shiba Memu happens Dogecoin is speculated for use in Twitter payments

• The potential for Shiba Memu is huge due to the twin capabilities brought by AI and blockchain

Will Dogecoin (DOGE) finally be used as a form of payment on Twitter? Well, the speculations are back again, but before we get to it, Shiba Memu (SHMU) could be the ultimate meme you would like to explore. Combining AI and blockchain, Shiba Memu could be a time-ticking meme token waiting to explode and swallow its predecessors. The token is on presale and selling fast.

Speculations of Dogecoin use in Twitter payments are back!

This is an old story that redeems itself every day. Twitter owner Elon Musk has vehemently toyed with the idea of Dogecoin as the payment medium on Twitter. While sceptics might want to give up on Musk’s theatrics, the billionaire investor isn’t giving up any time soon.

Recently, Musk updated his Twitter bio with the Dogecoin (Ɖ) symbol, raising speculations over the longstanding question. The move was consequential as DOGE rose by double-digits. The meme token has now eclipsed Cardano by market cap. 

The gains in DOGE are not new. Meme cryptocurrencies have risen by more than four-digit percentages at the slightest of positive speculation. They have, in turn, generated enormous and quick bucks for investors able to capitalise on positive developments. Shiba Memu is positioned to ride the AI frenzy and become among the most sought meme cryptocurrencies.

What is Shiba Memu?

Shiba Memu is an AI-led meme crypto project that markets itself. The project will use AI-based software to write its own PR and self-promote on social networks. Shiba Memu can also learn from successful marketing strategies to improve its creative advertising.

Being AI-powered also means that Shiba Memu can work 24/7. It can crawl the web all day and night and find the best ideas in creative advertising. The Shiba Memu team believes this capability will enable it to perform the work of 100 marketing agencies combined. 

As such, Shiba Memu is made to be self-sustainable. It can deliver a unique investment opportunity beyond a meme label. In the future, the aim is to make Shiba Memu more intelligent and powerful.

What is the market potential of Shiba Memu?

Shiba Memu carries a lot of potential owing to the popularity of the meme token market. The total value of the meme market was $20 billion in early 2022, up from $0 in early 2020. 

But Shiba Memu isn’t your usual meme cryptocurrency. The token enters the scene when AI is the hottest thing in fintech. Times have shown what AI can do, and Shiba Memu capitalises on this trend. 

With the meme sector still recovering from a prolonged crypto winter, Shiba Memu could be a game-changer. It allows investors to bet on a token with huge price potential and benefit from the first-mover advantages.

 Is Shiba Memu a 10x investment?

Meme cryptocurrencies are an exciting asset class. The price movements can be wild, which positions Shiba Memu for potential sky-high prices. A price increase of 1,000% is just an underestimation, as we have seen meme tokens rise by bigger percentages. 

With the enthusiasm that Shiba Memu is generating, investors should consider it a more than 10x investment. A price jump could be unstoppable once a FOMO around the cryptocurrency kicks in. 

Shiba Memu’s unique presale

The Shiba Memu presale is unique and is happening fast. It will be an eight-week presale and will end with as much amount that is raised. 

The second thing is that the price of SHMU increases daily at 6 PM GMT. That means you spend less buying now than 24 hours later. By the time the presale ends, the token’s value will have doubled to $0.0244 from the initial price of $0.011125.

The post The unending Dogecoin story and why Shiba Memu is a solid meme competitor appeared first on CoinJournal.

• The Federal Reserve delivered another interest rate hike on Wednesday.

• Chancer token sale continued this week as it raised over $1 million.

Cryptocurrency prices reacted mildly to the latest interest rate decision by the Fed. Bitcoin remained stuck slightly below the important level at $30,000 even as the Dow Jones continued its remarkable comeback. The index has risen in the past 13 days for the first time since 1980s. Meanwhile, Chancer raised over $1 million from investors.

Final Fed rate hike

The Federal Reserve decided to hike interest rates by 0.25% in its July meeting in a bid to fight the stubbornly high inflation. This rate hike brought interest rates to between 5.25% and 5.50%, the highest level in more than two decades.

Financial assets like cryptocurrencies and stocks don’t love high-interest rates, which explains why most of them plunged in 2022. However, there is an increasing hope that the Fed is nearing the end of the hiking cycle.

That’s because of the recent economic data from the United States. Data published earlier this month showed that the American labor market softened in June this year even as the unemployment rate sits at a multi-decade low.

At the same time, consumer inflation numbers revealed that prices dropped to the lowest level since March 2020 in June. The headline consumer price index (CPI) stands at 3.0%, lower than 2021’s high of 9.1%. Therefore, the bank will likely maintain interest rates at this range in a bid to prevent a hard landing. In a note, a Morgan Stanley analyst said:

“Nothing in the policy statement or the press conference led me to doubt our view that this will be the last hike of the cycle. The consumer is slowing, jobs are slowing, inflation is slowing and all those big pieces of the economy have been coming in line with our expectations.”

Another analyst at Pantheon Macroeconomics said:

“Numbers like that will make it harder for the Fed to justify hiking again, provided the gentle but persistent downward trend in payroll growth continues.”

Positive for Chancer

These statements are positive for cryptocurrencies, including Chancer. For starters, Chancer is an upcoming blockchain project that aims to change how the betting market works. It will achieve this using smart contracts, which are available in the blockchain technology. 

In addition to traditional sports markets, the platform will make it possible for people to create their own markets. It will have internal features to ensure that these markets work well. For example, it will have live streaming features to ensure accuracy and active participation of the community.

Therefore, the hope that the Fed has delivered its final rate hike decision is a positive one for the market. For one, after the rate hike cycle ends, the next phase will be downwards, especially if the American economy continues slowing down. Buy the Chancer token here.

Is Chancer a good investment?

I believe that Chancer has some positives, which make it a viable investment. For one, from a macro perspective, the end of the hiking cycle is a positive thing for most assets.

At the same time, Chancer is disrupting an industry with millions of users and billions in annual revenues. Therefore, a small market share gain will mean that the company will do well.

Most importantly, Chancer is relying on the blockchain industry, which is borderless in nature. This means that the company will be able to onboard customers from around the world. 

However, as with other token sales, there are always risks involved when investing in them. Therefore, you should be careful when buying the token. One way of doing this is by buying a small amount of tokens in order to mitigate risks. You can read the Chancer white paper here.

The post Analysts predict end of the hiking cycle as Chancer token sale continues appeared first on CoinJournal.

• Bitcoin Cash price has formed a falling wedge pattern on the 4H chart.

• Focus shifts to the upcoming interest rate decision by the Fed.

Bitcoin Cash price has retreated in the past few weeks as the recent momentum in the crypto industry waned. The coin dropped to a low of $240 on Wednesday, much lower than the year-to-date high of $329. This means that BCH has dropped by more than 27% from the highest point this year. 

Fed interest rate decision ahead

Bitcoin Cash price has been in a strong downward trend in the past few weeks. This trend started on June 30th when the coin soared to a high of $329. It also mirrors the performance of other major cryptocurrencies like Bitcoin, Ethereum, and Litecoin.

The next likely catalyst for Bitcoin Cash and other cryptocurrencies will be the upcoming interest rate decision by the Federal Reserve. Economists believe that the bank will decide to hike interest rates by 0.25%. It will also signal that this will be the final rate hike this year since inflation is falling at a faster pace than expected.

Data published earlier this month showed that the American consumer price index (CPI) dropped from 4.1% in May to 3% in June. Inflation has been falling after peaking at 9.1% in 2021. Therefore, another bearish rate hike will be a positive thing for cryptocurrencies.

Meanwhile, data showed by Coinglass shows that open interest in the futures market has dropped by more than 1.45% in the past 24 hours. Open interest dropped to $317 million with most of it being in Binance, OKX, Bybit, Bitget, and dYdX. Binance has over $167 million while OKX has $58.9 million.

Bitcoin Cash’s open interest peaked at over $541 million after the Ripple vs SEC lawsuit. It has dropped continually to the current $317 million, as shown below.

Bitcoin Cash price prediction

The 4H chart shows that the BCH price has been in a strong bearish trend in the past few days. It has moved below the 25-period and 50-period moving averages. However, a closer look shows that the coin has formed a falling wedge pattern, which is usually a bullish sign. 

Most importantly, this pattern is nearing the confluence level, signaling that a bullish breakout is possible. If this happens, the next level to watch will be at $280. A break below the support at $220 will invalidate the bullish view.

The post Bitcoin Cash (BCH) price forms a falling wedge: Is it safe to buy? appeared first on CoinJournal.

• Dogecoin failed at $0.1 resistance in 2023 and made new lows
• A double bottom might already be in place
• If Dogecoin breaks above resistance, more buying should follow

Financial market participants await the Federal Reserve’s monetary policy decision later in the North American session. The Fed is expected to raise the funds rate again by another 25bp. 

Therefore, it will be interesting to see the message regarding future decisions. Most likely, the Fed’s Chair, Jerome Powell, will offer some hints during the press conference to follow the FOMC Statement, and so the dollar’s volatility is poised to increase. 

The Fed’s decision interests all market participants, regardless of the market traded. Cryptocurrency traders speculating on US dollar pairs get ready for a sharp increase in volatility too. 

Dogecoin, for instance, looks interesting. It rallied in 2023 together with other major cryptocurrencies, only to be rejected at the $0.1 resistance area. 

The rejection was so powerful that Dogecoin gave up all of its gains and made a new lower low. However, other cryptocurrencies, such as Bitcoin, did not give up their gains, making it even more difficult for Dogecoin bulls to hold their positions. 

The good news is that Dogecoin bounced from the lows, and a double bottom pattern might already be in place. As such, one should not be surprised to see the cryptocurrency trying again to break the $0.1 resistance area. 

Dogecoin chart by TradingView

Dogecoin should rally some more if it overcomes the horizontal resistance

A double bottom is a bullish reversal pattern forming at the end of bearish trends. The $0.06 area provided support, and now the path of least resistance leads to another attempt at the $0.1 area. 

A daily close above resistance should open the gates for more upside. The pattern’s measured move points to much higher levels, as even the neckline lies way higher. 

Summing up, Dogecoin bulls should welcome the recent price action, as the rally in July might just be the start of a meaningful bullish trend. 

The post Dogecoin rallies in July, as a double bottom might already be in place appeared first on CoinJournal.

• Shiba Memu token has raised over $1.1 million in the past few weeks.

• The token will likely do well as the Fed delivers the last rate hike.

The Artificial Intelligence (AI) industry is doing well as adoption and investments rise. On Tuesday, companies like Microsoft and Alphabet said that their AI tools were gaining momentum as demand jumped. 

At the same time, top AI cryptocurrencies like SingularityNET and Fetch.ai have held quite well recently. Worldcoin, the coin launched by ChatGPT’s founder has jumped by almost 50% in the past three days. So, is Shiba Memu the next big thing in crypto?

Fed to end rate hike

There were three main news this week. First, the earning season continued in the United States as over 150 companies in the S&P 500 index published their results. Microsoft and Alphabet, two of the biggest companies in the US published strong financial results. Most importantly, the said that the development and adoption of their AI tools was gaining momentum.

The other big news was the launch of Worldcoin, a new cryptocurrency founded by Sam Altman, the founder of ChatGPT. Worldcoin is a cryptocurrency that is made up of a privacy-preserving digital identity known as World ID. WLD is a cryptocurrency that can be used internationally, as we wrote here. It also has some AI features.

The strong performance of Worldcoin is a testament that there is still demand for unique cryptocurrencies and technologies.

Finally, the Federal Reserve will deliver its interest rate decision on Wednesday. This will be an important decision since it could be the final hike of the year. Analysts believe that the bank will hike by 25 basis points and push rates to the highest point in 22 years. But with inflation falling, there is a likelihood that this will be the final increase.

A decision to pause interest rates will be necessary since inflation has fallen while there are signs that the economy is slowing down. Such a move will be positive for cryptocurrencies and other assets.

Shiba Memu token sale continues

The other important crypto news during the week was the strength of Shiba Memu, a new cryptocurrency that incorporates AI and meme coin features. The hype surrounding the token has continued rising, which has helped it raise over $1.18 million in the past two weeks. The creators have sold over 40 million tokens in the first phase of the process.

Shiba Memu’s goal is to leverage the strength of two important themes in the market: meme coins and AI. This year, we have seen the strength of several new meme coins like Pepe and Milady Meme Coin do well. At the same time, AI tokens like Fetch.ai and SingularityNET have jumped by more than 500%.

Therefore, there is a likelihood that the Shiba Memu coin will continue doing well when it is finally released in exchanges like Uniswap and Binance. You can read the Shiba Memu white paper here and buy the token here. 

Still, you should be aware of the risks of investing in presale tokens. It is a high-risk and high-reward way to make money. As such, you should only invest a small portion of your money.

The post Shiba Memu could be the next big thing as Fed prepares last hike appeared first on CoinJournal.