Shiba Inu first appeared on the scene as a joke-coin in 2020, aimed squarely at the top dog of the time Dogecoin. The meme coins uccessfully marketed its way to the position while avoiding rumors of a fraud and what appears to be a slow but steady start
Shiba Inu Slumps 5%
At press time, SHIB was down 5%, along with DOGE and other large cap crypto currencies, as the global cryptocurrency market cap fell to $2 trillion.
SHIB/USD price slumps 5%. Source: TradingView
At the time of publication, SHIB was one of the most popular coins on Twitter. According to Cointrendz data, it received 2,320 tweets.
At the time of publication, the three most popular coins were Bitcoin, Ethereum, and Solana. There were 15,069, 6,159, and 2,482 tweets about each of them, respectively.
Shiba Inu, like other meme coins, is entertaining to trade and has made some people quite wealthy in a short period of time. However, whether it’s Safemoon, Shiba Inu, or Dogecoin, there isn’t much value beneath the surface. As a result, with these tokens, buyer beware.
Has the SHIB lost its sense of humour? Perhaps. There will always be something more dazzling and opulent to come along. The meme coin market is brimming with opportunities.
Shiba Inu’s fan base is unquestionably one of the largest in the crypto world. It’s an issue of perception whether or not that’s changing.
Related article | Recapping 2021 Memecoin Mania: Dogecoin, Shiba Inu, & More
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