Shiba Inu (SHIB) Still Going Strong Despite Bearish Market
Although the bearish market prevails, Shiba Inu (SHIB) surged by 8% in the past week and is still performing at its peak.
It's no surprise that Shiba Inu (SHIB) has been on the rise lately, considering the current state of the market. Even though bearish conditions prevail, Shiba Inu is still performing at its peak. This just goes to show the resilience of this digital currency and its potential for continued growth in the future.
- SHIB's social metrics up by 1.43% is great news! This means that more people are interested in SHIB and its products or services.
- There is no denying that Shiba Inu's are one of the most popular dog breeds in the world. However, despite their social dominance, their ROI (return on investment) is down.
- As the world's largest cryptocurrency continues to surge in value, whales are going on a shopping spree.
It's no secret that social media plays a big role in driving investment interest in cryptocurrencies. For Shiba Inu (SHIB), recent chatter on social media has helped trigger a pump in prices. With amplified whale interest and updates to the metaverse, SHIB is certainly benefiting from the boost.
SHIB has been on a tear lately, outperforming other meme coins and even taking the top spot in terms of tokens held by the top 500 ETH whales, according to Whalestats. This surge in interest and activity could be due to the recent announcement from Whalestats, which has put SHIB in the spotlight. With more and more people taking notice of this altcoin, it's likely that SHIB's value will continue to rise in the near future.
SHIB Enjoying A Pump In Social Media Metrics
SHIB's recent social media success is amazing! With a 8% spike in social mentions and 10% surge in social engagements, SHIB's social media presence is stronger than ever. Plus, sentiment has been overwhelmingly positive. SHIB is definitely on the right track!
It is interesting to see the market volatility in terms of SHIB's social dominance. Currently, SHIB is at 1.43% social dominance, which is a significant decrease from its previous market share. However, it is still early to determine the long-term effects of this market change.
The SHIB token is on the rise, with over 51 million SHIB tokens burned so far. This gives a positive impact on the meme coin, and SHIB tokens are expected to increase in value over the long haul.
The increasing number of SHIB tokens in circulation is due to the large total supply of 1 quadrillion. This oversupply has led to an increase in initiatives to "burn" or destroy the excess tokens.
Shiba Inu whales on shopping frenzy, spending $1 million in one day
The recent increase in burnt tokens and boost in social media attention does not seem to have affected the volume of SHIB tokens. The meme coin's volume looks stable, with a surge seen on September 4. Around 300 million SHIB tokens were burned this early in September. This stabilizing force may be what the market needs to see sustained growth in the value of SHIB tokens.
In just 24 hours, the SHIB tokens have shown a 65% increase in burn rate, with 102k tokens being burned in just 35 transactions. This incredible feat is made even more impressive by the fact that around 528 transactions were enough to burn roughly 3.7 billion SHIB tokens, further increasing its scarcity level. This shows the immense potential of the SHIB token and its ability to maintain its value over time.
It's remarkable that whales are so interested in SHIB tokens! One whale just made a transfer of 2 trillion SHIB tokens, which is equivalent to $22 million. It's clear that there's a lot of interest in SHIB tokens from whales, and this could lead to big things for the project in the future.
It's no secret that social media metrics can be deceiving. Just because a company has a lot of likes, shares, and followers doesn't mean it's doing well financially. Unfortunately, this seems to be the case for SHIB, which has great social media numbers but poor ROI. Only 28% of investors made money, while 66% lost money. Hopefully SHIB can turn things around and start making a profit for its investors.
