• Last week, cryptocurrencies such as Bitcoin plunged hard amid a sense of fear in the financial market. Despite this, Shiba Memu token sale has gained steam and raised over $2.1 million.
• There are several factors that caused this price decline, including potential shakeout, technical reasons and a sense of fear in the markets due to bond yields. The Chinese economy is also going through its deepest slowdown in years and China is still an important part of the crypto industry.
• Despite the overall market decline, Shiba Memu token sale is still thriving and has managed to raise over $2.18 billion.
Cryptocurrency Price Decline
Last week saw Bitcoin and other cryptocurrencies plunge hard amidst a sense of fear in the financial market. Most coins and tokens were deeply in the red as demand waned across all markets.
Reasons for Crypto Price Drop
The cryptocurrency price drop can be attributed to several factors – a potential shakeout, technical reasons such as double-top patterns and a general sense of fear spread by stock and bond market sell-offs which led to higher bond yields. Further, China’s economy is going through its deepest slowdown in years which could have impacted crypto prices too.
China’s Impact on Crypto Market
China is an integral part of the global crypto industry – accounting for 20% of Binance volume – so it makes sense that any changes there would affect the whole sector too.
Shiba Memu Token Sale Thriving
Despite this overall market decline, Shiba Memu token sale continues to thrive with developers raising over $2.18 billion so far throughout their pre-sale period alone. This success can be attributed to its innovative combination of meme coins and artificial intelligence features that appeal to investors looking for something different than traditional investments like stocks or bonds..
Conclusion
In conclusion, while most cryptocurrencies dropped last week due to multiple reasons including potential shakeouts and fears related to stock and bond markets, Shiba Memu token sale kept rising despite these events and managed to raise over $2 million during its pre-sale period alone – indicating strong investor interest in this new type of cryptocurrency technology