Shiba Inu Howls Past Competitors in Social Media Frenzy

March 15, 2024
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Shiba Inu, often playfully called the “Dogecoin killer,” has secured the third most socially active meme coin. According to data tracked by LunarCrush, a respected social intelligence platform, Shiba Inu boasts an impressive 8.15 million social interaction score.

The resilience in social media engagement suggests a dedicated and active community rallying behind SHIB. The platform’s social interaction metric considers user activity across platforms like X, Reddit, and Discord. Its analysis awarded Shiba Inu a score of 8.15 million, including social media likes, upvotes, retweets, and comments.

The impressive figure places Shiba Inu firmly in third place, outperforming rivals like FLOKI, BONK, MYRO, and DOGWIFHAT. The report further details that these competitors garnered scores of 5.52 million, 5.35 million, 3.77 million, and 3.43 million respectively.

The robust social media footprint of Shiba Inu showcases a fervent community, poised to play a pivotal role in the future success of the Shiba ecosystem. Despite the inherent short-term volatility in the cryptocurrency market, the presence of a dedicated and active community underscores the potential for enduring stability and growth within its ecosystem.

It’s important to note that social media engagement doesn’t necessarily translate directly to price appreciation. However, it does highlight the level of interest and enthusiasm surrounding a particular cryptocurrency, which can be a valuable indicator for investors.

Meanwhile, SHIB fiercely defended the important support level at $0.000030 and traded as high as $0.0000033. What’s particularly noteworthy is the unwavering confidence among existing SHIB holders. They have shifted a staggering 7 trillion SHIB tokens away from trading wallets into long-term storage since the start of March 2024.

The strategic move signals widespread reluctance to sell at the current price levels. In fact, these 7 trillion tokens are now worth approximately $230 million.

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