After a challenging few weeks for meme coin enthusiasts, things are starting to look up – with Shanghai Inu ($SHANG) leading the way.
The $SHANG price has surged by over 1,100% in just the past 24 hours, as eager investors clamor to get involved in the next Doge-themed project to take the market by storm.
Meanwhile, the AI-backed meme coin AiDoge remains on its meteoric trajectory during its presale period, collecting a whopping $12.7 million from early-stage investors.
$SHANG Price Rockets Upwards, Generating Returns of Over 1,100%
Shanghai Inu’s unexpected and rapid success has sparked the meme coin market back to life over the past seven days.
Launched in mid-April, around the same time as Pepe Coin ($PEPE), the first few weeks of Shanghai Inu’s life were uneventful. The token traded sideways with no real momentum – leading many to believe it was yet another low-utility project looking to cash in on $PEPE’s success.
However, this has all changed now, with the $SHANG price rocketing over 1,100% in the past day.
Per DEXTools.io, the token is also up an incredible 5,900% since the bull run began on May 21.
Meme coin investors are now looking to get involved in the project, with CoinMarketCap reporting that more than $36.3 million worth of $SHANG was traded over the past 24 hours.
Around 86% of the total $SHANG trading volume has been facilitated on the Singapore-based exchange, CoinTiger – highlighting the token’s popularity with Asia-based investors.
This incredible uptick in momentum has led Shanghai Inu to a fully-diluted market cap of over $8.5 million, according to Etherscan.io – with more than 1,800 unique wallet addresses now holding the token.
Whether this trending meme coin can sustain its momentum is yet to be seen. Still, for now, Shanghai Inu’s meteoric rise is a testament to the unpredictable and captivating nature of the meme coin market.
Shanghai Inu’s Futuristic Features Spark Buying Frenzy
But what has sparked such significant attention towards Shanghai Inu, particularly after a prolonged period of trading sideways?
As noted on the project’s Twitter page, this “futuristic cyborg hybrid dog” boasts utilities like AI services, liquid staking, NFTs, play-to-earn (P2E) gaming, and much more.
The liquid staking aspect has caught the attention of investors, as Shanghai Inu’s whitepaper claims that $SHANG holders can stake their tokens to earn an APY of between 5% and 10%.
Rewards will be paid out in $wETH, and since it’s a “liquid” staking pool, there’s no lock-up period required.
Shanghai Inu’s whitepaper also reveals the development team plans to launch an NFT collection on OpenSea and an engaging P2E game. However, as of now, there are yet to be any details on what these will actually comprise.
There’s no buy or sell tax on $SHANG transactions, with liquidity locked forever. This latter aspect is crucial since it means the initial liquidity provided for trading $SHANG cannot be withdrawn – preventing a “rug pull” from occurring.
Shanghai Inu’s anonymous developers have even sent 25% of the total token supply (250,000,000,000,000 $SHANG) to Ethereum co-founder Vitalik Buterin. This guerrilla marketing tactic has been employed by several other meme coins – most notably by Dogelon Mars.
Ultimately, the combination of Shanghai Inu’s utility features and its Doge-style appeal has undoubtedly caught the market’s attention – and with the $SHANG price showing no signs of slowing, early investors could have a lucrative road ahead of them.
AiDoge Poised to Disrupt the Meme Coin Market After Raising $12.7 Million
While Shanghai Inu enjoys a remarkable surge, many investors are shifting their attention towards another promising player in the meme coin arena – AiDoge ($AI).
This brand-new meme coin has a distinct twist, given its cutting-edge blend of Doge-style aesthetics and artificial intelligence (AI) technology.
AiDoge has been making waves during its ongoing presale phase, raising an impressive $12.7 million in less than one month – a testament to its attractiveness before it even hits the broader market.
Like Shanghai Inu, AiDoge has capitalized on the massive appeal of Doge-inspired meme coins. However, it also introduces its own innovative features that could fuel its ascent once listed on major exchanges.
Per AiDoge’s whitepaper, the project’s distinguishing feature is its AI-powered meme generator – set to be a revolutionary tool in the social media landscape.
This meme generator harnesses the power of artificial intelligence, allowing users to create unique, trending, and hilarious memes with just a few clicks.
AiDoge’s meme generator can do this thanks to an array of sophisticated algorithms trained on huge datasets – meaning it understands the patterns and structure that can make a meme resonate with social media users.
Those wishing to use AiDoge’s meme generator must purchase credits using $AI – AiDoge’s native ERC-20 token.
Considering its crucial role in the AiDoge.com ecosystem, the $AI token has piqued the interest of several notable figures in the crypto space.
Among them is YouTuber Crypto Gains, boasting over 105,000 subscribers, who has recently expressed his bullish sentiment towards the token.
As the journey of AiDoge unfolds, its blend of novelty, utility, and investor appeal signals an exciting future ahead – and with $AI still available to purchase at a discount through the project’s presale, investors have the opportunity to get in on the ground floor of this exciting project.
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