Shiba Memu (SHMU) defies gravity as hawkish Fed jitters remain

The Federal Reserve determined to go away rates of interest unchanged.

It additionally signaled that it’ll ship one other fee hike later this 12 months.

Shiba Memu has defied gravity by elevating over $3.1 million.

Shares and cryptocurrencies got here underneath intense stress this week because the Federal Reserve pointed to larger rates of interest within the coming months. The Dow Jones, Nasdaq 100, and S&P 500 slipped for 4 straight days. Equally, Bitcoin dropped to $26,000, down from this month’s excessive of just about $28,000. 

Federal Reserve resolution

The primary catalyst for the efficiency of shares, cryptocurrencies and bonds was the most recent Federal Reserve rate of interest resolution. In it, the financial institution determined to go away rates of interest unchanged between 3.50% and three.25%. On the similar time, the committee hinted that it was nonetheless involved about inflation. 

Because of this, the dot plot pointed to a different 0.25% hike by the tip of the 12 months. If this occurs, rates of interest will peak at 5.75%, the best stage in additional than 23 years. The Fed is correct to be nervous about inflation. 

Current knowledge exhibits that the value of crude oil has continued hovering. Brent, the worldwide benchmark, rose to $95 and most analysts consider that it’s only a matter of time earlier than it hits $100.

The value of different agricultural commodities can also be rising. Reside cattle has jumped by 20% this 12 months and is sitting on the highest level on report. Cocoa, which is used to make chocolate, has soared due to low yields in Ghana and Ivory Coast. Orange juice has additionally soared.

Subsequently, there’s a probability that the Federal Reserve will proceed rising charges within the coming months. In addition to, the UAW staff are on a significant strike whereas an extended visitors jam is occurring on the Panama Canal.

Shiba Memu is flourishing regardless of dangers

The actions of the Fed dangers plunging the American economic system right into a recession. For one, the M2 cash provide within the economic system has dropped by greater than $2 trillion up to now few months. Delinquency charges have additionally jumped whereas mortgage charges are nearing 8%.

Nonetheless, traders are nonetheless excited about Shiba Memu, the upcoming meme coin that has some AI options. Knowledge in its web site (use this hyperlink) exhibits that the token has already raised over $3.1 million from traders. This makes it one of many largest winners this 12 months

For starters, Shiba Memu goals to be a greater model of Shiba Inu, the enormous meme coin. It should try this by incorporating AI options that may assist it in self-marketing. Subsequently, if it succeeds, Shiba Memu will possible change into a much bigger deal than different meme cash like Dogelon Mars and Pepe, which haven’t any main utility.