Schlagwort: crypto business

• Maker’s MKR price has staged a strong recovery in the past few days.

• Spark Protocol is seeing strong inflows because of its higher rates.

Maker (MKR) crypto price jumped on Thursday as investors cheered the rising demand for the Dai stablecoin. The coin jumped to a high of $1,100, which was much higher than last Friday’s low of $978. Its recovery also coincided with the strong comeback of tech stocks following Nvidia’s earnings.

Dai demand jumps

MakerDAO is one of the biggest players in the blockchain industry. Data compiled by DeFi Llama lists its total value locked (TVL) at over $5.12 billion, making it the third DeFi player after Lido DAO and AAVE.

MakerDAO is known for the Dai stablecoin, the 12th-biggest cryptocurrency and the third-biggest stablecoin in the world.  Dai’s market cap has jumped by more than $1 billion in the past few weeks, giving support to MKR’s token.

Dai is thriving thanks to Spark Protocol, a rival to AAVE that was launched by MakerDAO a few months ago. Spark is a DeFi protocol that makes it possible for people to earn returns by simply depositing cryptocurrencies like ETH and Dai.

Spark also allows people to borrow Dai against their collateral and swap other coins without slippage. Data shows that depositors are earning a return of as much as 8%. Like AAVE, it generates these funds by lending in the platform. Spark has grown so much such that its total value locked has jumped to over $578 million.

MakerDAO and other DeFi protocols are facing the challenge of high-interest rates since money market funds are now generating a higher rate, thanks to the relatively higher interest rates by the Federal Reserve. Some funds are returning as high as 6%.

Maker price forecast

The 4H chart shows that the MKR price dropped sharply last week as cryptocurrencies plunged. It dropped to the important support level at $978. The coin still remains below the 50-day moving average and is slightly below the 50% Fibonacci Retracement level.

Therefore, there is a likelihood that the MKR price will likely continue rising as buyers target the key resistance level at $1,150. A drop below the support at $1,050 will invalidate the bullish view.

How to buy Maker

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Key takeaways

• The broader crypto market rallied over the last 24 hours, but Shiba Inu continues to underperform.

• Shiba Memu’s stage two presale has now topped the $2.2 million mark.

The cryptocurrency market experienced a price cash last week that saw Bitcoin drop to the sub $25k level. Since then, the market has been underperforming.

However, the market slightly recovered yesterday, with Bitcoin currently trading just around $26,500 per coin. Despite the market’s bearish trend, Shiba Memu’s presale continues to progress excellently. 

Shiba Inu stays around $0.000008

SHIB, the native token of the Shiba Inu ecosystem, has been one of the worst performers so far this week. While the crypto market rallied on Wednesday, SHIB continued its downward trend.

SHIB has lost less than 1% of its value in the last 24 hours and is currently trading at $0.00000827 per coin. The bearish trend came following Shiba Inu’s botched launch of Shibarium last week. 

The team said they would be reopening the Shibarium network to the public soon. If that happens and there are no issues, SHIB could rally higher and reach the $0.000009 level in the near term. 

What is Shiba Memu?

Shiba Memu is a cryptocurrency project that is currently in its presale stage. The project wants to combine the powers of AI and blockchain technology to positively impact the marketing industry. 

With Shiba Memu, it would become easier for people and organisations to create content and roll out marketing campaigns. 

According to their whitepaper, Shiba Memu would be designed to handle the tasks of several marketing agencies. Shiba Memu will always be active and will be available to consume content and generate better content marketing strategies and campaigns for companies. 

Shiba Memu is launching as a meme token thanks to the recent surge in the status of meme projects. Within the space of two years, the market cap of meme coins grew from practically $0 in 2020 to $20 billion in 2022. 

What makes Shiba Memu different from other meme projects is that it has a real-world utility. Shiba Memu can be considered a self-sufficient marketing tool powered by AI technology.

Shiba Memu’s stage two presale hits $2.2M

The recent market turbulence didn’t affect Shiba Memu as its stage two presale continues to hit new highs. The presale has been around for nearly two months now, and the team has raised more than $2.2 million in the second stage. 

With more than 70 million tokens sold, the second presale stage could be concluded in the coming days. The team intends to use the funds generated from the presale to develop some of its products and services. 

Most of the funds would be pushed towards developing the Shiba Memu AI technology. Shiba Memu will use AI technology to provide exciting marketing services to its users. 

Shiba Memu users will also be able to interact with the AI, provide feedback, make suggestions, and ask questions. Hence making it an exciting AI-powered marketing platform. 

Click here to find out more about Shiba Memu’s presale event.

Shiba Memu price prediction

Shiba Memu is still in its presale stage, and we can’t accurately predict its price movement in the short term. At the moment, 1 SHMU = 0.022375 USDT.

According to the team, SHMU’s price increases every day at 6 pm GMT. In a few hours, the token will go for 0.022600 USDT. The token began trading at $0.011125 when the presale began and will trade at $0.0244 when the presale ends. Investors can purchase SHMU tokens using Ethereum, USDT, BNB and BUSD

Should you buy Shiba Memu now?

Investing in a project during its presale is usually the best decision as it allows you to get into projects earlier than other investors. The ROI generated during that period usually exceeds what other investors make. 

Shiba Memu is an exciting project that will use AI technology and blockchain. If the project gains the necessary adoption, SHMU’s price could rally higher over the next few months and years. 

The performance of the broader cryptocurrency market could also determine SHMU’s price. A bullish run in the medium term could see SHMU’s price soar higher. 

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