Liquity, Loom Network Surges as Shiba Memu Token Sale Continues

Cryptocurrency prices have been in a deep slumber in the past few weeks as investors move back to stocks and other safe havens like short-term bonds and money market funds. Bitcoin has remained stagnant betweeen $25k and $30k while the total market cap has remained stuck above $1 trillion.

Loom Network, Liquity surge

Not all cryptocurrencies have remained in this consolidation phase in the past few weeks. As I wrote here, Loom Network price has surged by more than 500% in the past few days, making it the 92nd biggest cryptocurrency in the world. The rally happened after Gate.io, a leading exchange listed the cryptocurrency. 

And this week., Loom Network’s futures were added to leading exchanges like Binance and LBank. As all this happened, the coin entered the so-called markup stage of the Wyckoff model where demand is usually higher than supplies. 

The other top mover was Liquity, a platform that operates the Liquity US dollar stablecoin known as LUSD. Users can take loans using the stablecoin after staking ether as collateral. LQTY price has surged to $1.35, higher than last month’s low of $1.35. 

Liquity’s price action was mostly due to the increased activity in its ecosystem. The latest data shows that users who staked in the protocol received $625k in the last month even as the crypto winter continued. 

Shiba Memu token sale continues

The other big winners in the past few weeks has been Shiba Memu, which has continued raising additional capital in the past few months. The token has raised over $3.8 million, making it one of the most successful token sales in the world. 

For starters, Shiba Memu is a meme token that aims to disrupt the industry that is now dominated by the likes of Shiba Inu and Dogecoin. It aims to do that by combining two of the most popular technologies in the market.

The first technology is artificial intelligence (AI), which has grown rapidly because of the success of ChatGPT and other companies like Anthropic. Analysts believe that AI will be the most disruptive industry in the market.

Shiba Memu will use some of the top building blocks of AI like predictive modelling, data analysis, and image analysis. The end goal is to have a meme coin that evolves over time and markets itself.

The other technlogy is the meme coin, which is mostly hype driven. But in this case, Shiba Memu will have a