Key takeaways
The cryptocurrency market has underperformed over the last few hours, but that hasn’t halted investors’ interest in several crypto projects. Shiba Memu’s presale has now officially surpassed the $3.5 million mark, and the team is close to reaching its target for this round.
Grayscale takes another bold step in the market
Grayscale Investments announced a few hours ago that it has partnered with NYSE Arca to file for approval from the U.S. Securities and Exchange Commission (SEC) to convert the Grayscale Ethereum Trust (ETHE) to a spot ethereum ETF.
At the moment, the company’s Ethereum Trust is the largest Ether investment product in the world, with nearly $5 billion in assets under management. Grayscale made a similar move with its Bitcoin Trust product and is now awaiting the SEC’s approval to convert it to a spot Bitcoin ETF.
What is Shiba Memu?
Shiba Memu is a meme token project that continues to generate interest despite the current market conditions. The presale has crossed the $3.5 million mark after adding more than $500k over the last two weeks.
It is a meme token project that will develop a platform to leverage the powers of AI and blockchain technology to create an unstoppable, entirely self-sufficient marketing powerhouse.
The team explained that Shiba Memu would handle the work of numerous marketing agencies. The AI on the platform means that Shiba Memu will be working 24/7 to generate exciting content to help companies and individuals market their products and services.
Shiba Memu is launching as a meme project as it seeks to ride the recent popularity of meme coins. Over the last three years, the market cap of meme coins grew from practically $0 to reach the $20 billion mark in 2022.
However, Shiba Memu doesn’t seek to be like other meme coins in the sense that it has a real-world use case. Shiba Memu has utility and will solve real-world problems for companies and individuals.
According to the team’s whitepaper, Shiba Memu will come with self-sufficient marketing features powered by AI. The platform will develop its own marketing strategies, write its own PR, and promote itself in relevant forums and social networks.
For a start, Shiba Memu will operate on two major blockchains, Ethereum and BNB Chain
Shiba Memu’s presale tops $3.5 million
The Shiba Memu presale has now…
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