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Has The Popularity of Shiba Inu Has Grown Beyond Bitcoin or Ethereum?

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Highlights

    Shiba Inu price still stands strong above $0.00007000 levels manifesting the strength within the rally

    Many utilize the SHIB’s popularity for self-promotion, and ShibArmy just stands strong for its token expecting just another 1000% jump

Shiba Inu gained mainstream attention when it received Elon Musk’s mention. In no time price rallied gigantically, later also suffered extreme loss too. The SHIB price remained almost stagnant until the very recent bull run. The 1000% rally, killing a zero from the price led the crypto market on fire. Many believe, the meme coin would also drop at the same pace but it’s standing above strong support levels. And hence indicates the price may resume with its bull run soon. 

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With the sudden surge in SHIB price since the start of Q4, a huge amount of traders experiencing a FOMO just jumped in. The volume rose like never before, surpassing the volume of popular altcoins like Ethereum, Cardano etc. And very soon, the meme coin became the talk of the town. However, despite the silent trend, currently, the volume remains above $5 billion at the press time. 

The most popular meme token gained immense attention and adoption in a very short period of time. Many whales jumped in and acquired a gigantic part of the circulating supply worth billions. Also, the Shiba Inu token was among the top 3 most searched queries on Google and hence, this may be the reason, many exchanges use Shiba Inu to promote themselves. After Coinbase and Robinhood, Kraken attempts to grab the ShibArmy’s attention.

An eye-catching tweet from Kraken again woke up the ShibArmy who just followed the path led by the exchange. The tweet said that Crypto Platform product lead, Brian Hoffman, said that if the post will get 2000 likes, then SHIB will be listed on Kraken. However, the tweet also specifies that the product lead thinks this may not happen. And very soon, within 15 min, the tweet crossed 2K likes and stands at 56.5K likes at the press time. 

The question that arises is, why do most of the exchanges use Shiba Inu for the promotion of their respective platforms? 

Despite the fact that therein is so official announcement from Kraken, yet the rounds of the listing is making huge noise in the crypto space. No doubt the SHIB price is not able to make gigantic moves, yet it’s comfortably sustaining above $0.00007000 levels. Therefore, manifesting its tendency to range high in order to gulp another zero.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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