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04/05/2024

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Shiba Inu Takes Center Stage As Social Activity Spikes, Price Uptick Imminent? | Bitcoinist.com

Popular meme coin Shiba Inu (SHIB) is exhibiting significant adoption as the crypto asset is witnessing a surge in social activity, demonstrating its stance as one of the leading coins in the cryptocurrency...

Shiba Inu Takes Center Stage As Social Activity Spikes, Price Uptick Imminent? | Bitcoinist.com

Popular meme coin Shiba Inu (SHIB) is exhibiting significant adoption as the crypto asset is witnessing a surge in social activity, demonstrating its stance as one of the leading coins in the cryptocurrency industry.

Shiba Inu Social Activity On The Rise

The development was reported by Shiba Inu’s team on the X (formerly Twitter) noting that SHIB social activity is buzzing. This simply suggests that the meme coin is experiencing an increase in interest from community members and investors.

According to the team, the SHIB community also recognized as SHIBArmy is stronger than it has ever been due to the recent uptick in social activity. Thus, they urged the community to continue spreading the word and let the world witness the SHIBArmy’s overwhelming strength.

Shiba Inu’s team post came in light of leading social intelligence platform LunarCrush’s post regarding SHIB signaling bullish trends. LunarCrush has identified four distinct positive indicators that suggest SHIB could be rallying anytime soon. These include increasing social activity, rising price action, accelerating market volume, and a very strong LunarCrush AltRankTM of 2.

It is important to note that Shiba Inu has become a very popular meme coin with a devoted fan base and community support. Remarkably, based on social engagement, the digital asset has continuously been rated as one of the best cryptocurrencies.

SHIB has gained a lot of awareness and appeal among crypto aficionados thanks to its distinctive branding and active social media presence. With millions of interactions on social media platforms such as X, Discord, and Reddit, it is among the most well-liked cryptocurrency assets on these sites.

In mid-December last year, almost 24,000 postings on SHIB were made on these websites and other cryptocurrency-related social media networks. Additionally, SHIB generated a lot of buzz on social media, garnering more than 85 million mentions. As a result of the social increase, SHIB briefly surged to a three-month high of $0.00001094.

Given the previous impact on the crypto asset’s price, there is speculation that a price uptick could be imminent. Investors and analysts will continue to closely monitor Shiba Inu’s performance as the cryptocurrency market develops and reacts to a range of external factors.

SHIB’s Interest Goes Beyond Social Media

SHIB‘s interest has grown beyond the social media landspace over time. Recently, it became the second most sought-after digital asset in the European Union, solidifying its position in the market. 

Shiba Inu secured the second position by surpassing well-known coins like Dogecoin (DOGE), Cardano (ADA), and Ethereum (ETH). The rankings were established after thoroughly examining Google Trends data over the previous year to identify the cryptocurrency each European country wants to invest in based on searches.

This significant milestone suggests widespread recognition among European investors who are thinking about embracing the token. It also exhibits a steady surge in interest, which reflects the confidence of its global community.

Shiba Inu
SHIB trading at $0.00002645 on the 1D chart | Source: SHIBUSDT on Tradingview.com

Featured image from iStock, chart from Tradingview.com

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Godspower Owie

Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinnist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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