Shiba Inu Is Just Getting Started, How Far Will SHIB Go?
Looks like Shiba Inu (SHIB) has much to look forward to.The community is hoping for a fair burning mechanism to come with Shiboshi NFTs.Nayib Bukele — President of El Salvador, also helped draw attention to the meme coin.
Shiba Inu (SHIB) has been the token on everyone’s mind these last few days. Recent activities for the token have caught the attention of the entire crypto market. Just a few days ago, the price of SHIB shot up exponentially.
In detail, the price has gone up by 217.7% in the last 7 days. Currently, Shiba Inu’s price stands at $0.00002725. From the data, we can see that the price of Shiba Inu (SHIB) is steadily approaching the record set by its last ATH set in May at $0.00003791.
For now, analysts believe that a new ATH for SHIB is just around the corner. Since many expect Bitcoin and other altcoins to hit new ATHs soon, this expectation isn’t much of a stretch.
According to Google (NASDAQ:GOOGL) Trends, we can see that SHIBs popularity score in May sat at 100. Now in October, the score is at 99. This is another indication that a new ATH could happen any minute.
In comparison, the popularity of Dogecoin (DOGE) is much lower. In fact, interest in SHIB has surpassed DOGE. At the moment, SHIB is almost tied with Bitcoin when it comes to popularity scores.
Shiba Inu’s Twitter (NYSE:TWTR) community has also been abuzz. Shytoshi Kusama’s many recent tweets point to much activity coming SHIBs way. For instance, Shytoshi hints at big changes that’ll have the whole industry following SHIB’s lead.
While Shytoshi could be talking about the upcoming Shiboshi NFTs, it could also mean a number of other things. One of the community’s hope is for a practical way for burning SHIB. To do so, perhaps a video game that allows token burning would be a great option. Above all, it will increase SHIBs growth potential.
Meanwhile, SHIB whales have been very active lately. To highlight, one whale moved over 6 trillion SHIB just before the recent price spurt. Accordingly, WhaleStats shows that SHIB is the top-most popular ETH token this October.
Finally, more interest for SHIB came from El Salvador’s President — Nayib Bukele’s tweet. The tweet said he has a surprise for everyone along with dog print emojis. This got the crypto and SHIB community very excited. Some speculated that perhaps El Salvador will accept SHIB like it accepted BTC.
Les tengo una sorpresa
¡Qué nervios!
— Nayib Bukele (@nayibbukele) October 9, 2021
While the surprise was unfortunately not about SHIB, it still drove much interest for SHIB. Not to mention, the unwavering support that came from the SHIB community was massive. This is a good sign for it shows the strength and backing that comes from SHIB’s community.
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Source: Investing.com
