- Rising Polygon prices are attributed to adoption, utility, and partnerships.
- Polygon’s Q3 innovations boost its position in the crypto market.
- Shiba Memu’s presale success is driven by an autonomous marketing approach and AI technology.
In the world of cryptocurrency, exciting developments are constantly unfolding, and Polygon (MATIC) is no exception. While Polygon has been making waves in the crypto space, another token, Shiba Memu (SHMU), has been gathering attention with its presale surging above $3.55 million.
In this article, we’ll explore the recent developments in both Polygon and Shiba Memu, shedding light on what’s driving Polygon’s price surge and what the future may hold for both tokens.
Polygon’s impressive run
Polygon, renowned for its innovative “layer two” scaling solution built on the Ethereum blockchain, has been on an impressive run. It addresses the long-standing issues of slow transactions and high fees on the Ethereum network.
Polygon’s solution optimizes transaction speed and reduces fees, making it an attractive choice for developers and users alike.
Key developments in Q3 for Polygon
The third quarter of 2023 has been marked by several notable developments in the Polygon network.
Polygon ID Release 4
Polygon ID Release 4 was unveiled on July 20, offering tools to seamlessly integrate Polygon ID modules into developer projects.
Polygon ID, built on the iden3 protocol, focuses on decentralized identities using zero-knowledge proofs. This innovation has led to a thriving ecosystem with various projects and trusted networks.
Immutable zkEVM Testnet
In August, Polygon Labs and Immutable collaborated to introduce the Immutable zkEVM Testnet, a dedicated chain for gaming that combines zk-rollup technology with Ethereum Virtual Machine (EVM) compatibility.
This promises extensive scalability, reduced costs, and robust security, positioning it as a game-changer in the gaming sector.
Uptrip Loyalty Program
On August 31, the Polygon network welcomed Uptrip, a groundbreaking travel platform.
Uptrip rewards travellers with NFT trading cards for each flight, offering unique rewards such as business lounge vouchers and frequent traveller status unlocks upon completing collections.
This integration highlights Polygon’s versatility in supporting diverse applications.
Polyhedra Network’s Zk-Powered Bridge
In early September, Polygon Labs reported a significant development in collaboration with Polyhedra Network.
Polyhedra Network is working on a cross-chain bridge powered by zero-knowledge (ZK) technology, aiming to enhance interoperability between Polygon and other Layer-1 and Layer-2 networks.
Canto’s Migration to ZK L2
September 18 marked Canto’s migration to a zero-knowledge Layer 2 on Ethereum using Polygon’s Chain Development Kit (CDK). This move allowed Canto to focus on real-world assets while maintaining independence and modularity within the broader ecosystem of ZK Layer 2 networks.
Polygon’s CDK, being permissionless and open-source, provides the flexibility needed for projects like Canto to thrive.
Dragon Fruit Upgrade
The Polygon ZkEVM received its first upgrade, known as Dragon Fruit, on September 20.
This upgrade added support for the latest EVM opcode, solidifying Polygon zkEVM’s position as a pioneer in supporting PUSH0 in Ethereum L2 scaling. This enhancement is expected to contribute to Polygon’s growing popularity.
Why Polygon’s price is rising
Amid these developments, it’s essential to understand why Polygon’s price is experiencing an upward trajectory. The increase in Polygon’s adoption and utility, driven by its scaling solutions and partnerships, has been a key factor. As more projects and platforms integrate with Polygon, its ecosystem grows, making it more attractive to developers and users.
Furthermore, Polygon’s commitment to enhancing the developer experience, fostering interoperability with other networks, and addressing the pain points of the Ethereum network has solidified its position as a leading Layer 2 solution. The utility of Polygon in various sectors, from gaming to DeFi, has contributed to its rising demand, resulting in a positive impact on its price.
Shiba Memu presale surge
While Polygon has been busy with its innovative developments, another player has emerged in the crypto space. Shiba Memu (SHMU) has witnessed a remarkable surge in its presale, surpassing $3.55 million.
The Shiba Memu project prides itself on its self-sufficient marketing capabilities, driven by AI technology, making it a unique and attractive investment in the world of meme tokens.
Shiba Memu’s presale success can be attributed to its growing community, often referred to as the #MemuMafia. This community has been gaining relentless power, and the project’s relentless marketing efforts have played a significant role in its rapid rise.
The #MemuMafia’s support has contributed to the token’s popularity and the funds raised during the presale.
Unique selling proposition
Shiba Memu distinguishes itself by claiming to create its marketing strategies, write its PR, and promote itself in relevant forums and social networks autonomously. This unique approach eliminates the need for extensive human-led marketing efforts, potentially reducing costs and increasing efficiency.
Furthermore, Shiba Memu’s utilization of AI technology allows it to generate an abundance of content, monitor and analyze marketing performance, and engage with users directly through an AI dashboard. This level of automation and innovation has attracted investors looking for a novel and technologically advanced meme token.
The third quarter of 2023 has been a significant period for both Polygon and Shiba Memu. Polygon’s innovative developments and partnerships have fueled its price rise, while Shiba Memu’s presale surge showcases the growing interest in meme tokens with unique value propositions.
The crypto space continues to evolve, offering opportunities for innovation and investment, and both Polygon and Shiba Memu are riding this wave of progress.