Shiba Inu’s rise as a reflection of crypto market
The Shiba Inu meme has become the third most popular cryptocurrency in Google search after Bitcoin and Ether, according to data from Vacancy Technology.
According to the study, users requested information about Shiba Inu on average 2.8 million times a month (in 2021). On the other hand, information about Bitcoin and Ethereum is searched on average 22 million and 6.3 million times a month.
Shiba Inu was launched in July this year. The cryptocurrency creators depicting the Japanese Shiba Inu breed of dogs call their token “Dogecoin killer.”
If we look at the balance of power for the most dynamically growing projects for the week, then SHIBA is the undisputed leader (data provided by the Cryptobubbles service). The growth for the week was 174%!
Do you remember how Ethereum co-founder Vitalik Buterin burned more than $6.7 billion worth of SHIBA tokens in early May? Well, they no longer cost $6.7 billion. At today’s prices, this figure has increased almost fivefold and amounted to $32.5 billion.
Famed holder SHIBA, who spent $3,400 on memcoin in August last year, is now a crypto billionaire through this purchase alone, with the asset having increased 94,278,239.8% over the past year (you can see this famous address below).
According to Intotheblock, Shiba is consistently outperforming the market. In just seven days:
- $4.59 billion was sent online with minimum transactions > $100K.
- Added 47800 new project holders
- Registered $22 Billion Trading Volume in Perpetual Futures Contracts
- And, of course, 100% of the addresses from SHIBA are in profit.
SHIBA is now at the center of attention of all news resources due to the massive price pump and unrealized profits that some addresses have. And you might be wondering how many other wallets are like a $5.7 billion wallet? Check out the distribution chart below from Intotheblock.
Shiba is an excellent example of the current state of the crypto market. Many would like to invest in similar projects, but diversifying the risks of a possible fall.
To do this, our company ECOS provides you with the opportunity to invest in cryptocurrencies with the optimal level of risk by buying investment portfolios from experts. Thus, you can participate both in the growth of the market as a whole and invest separately in various sectors of the crypto-economy. Soon we will add the SHIBA token to our portfolio Elon Musk Index. Stay tuned!