According to statistics collected by ICO Analytics, Shiba Inu, a Dogecoin competitor, was by far the most mentioned cryptocurrency on Twitter in October.
Shiba Inu has popped up as an obvious frontrunner, According to the analysis company. They have received a 22.2% share of all crypto asset discussion threads on Twitter. This overshadowed Ethereum by 8.1% and Bitcoin by 7.2%, according to the analysis company.
According to the company’s data for the month of October, Ether, Bitcoin, and Dogecoin ranked second, third, and fourth in the Twitter popularity index, respectively.
According to the statistics conveyed by ICO Analytics, the top ten actively addressed crypto coins on Twitter included the cryptocurrency Safemoon, Solana, Cardano, and Binance. Even so, hardly any of the cryptocurrencies came close to matching Shiba Inu’s popularity (SHIB).
On the microblogging site Twitter, supporters of SHIB have been using hashtags. These hashtags include #SHIBARMY #ShibaSwap #shibainu #shibainucoin, and #SHIB to increase public support for the meme coin.
On Shiba Inu
The official Shiba Inu Twitter account now has over 1.9 million followers. In contrast, at the time of writing this article, the Ethereum network’s official account had 1.8 million followers.
Tech billionaire Elon Musk is thought to have aided the upsurge of SHIB is thought to have been aided, who on October 18 tweeted a photo of the coin on its way to the Moon. The token was trading at $0.000026 at the time (Rs. 0.0020). As per CoinMarketCap, his tweet steered the coin up nearly 50% to a high of $0.000044 (Rs. 0.0033).
Another significant possible explanation is that there are rumors circulating in the crypto world. This rumour is that they will register SHIB Robinhood, a prevalent stock trading app. A Change.org petition has also urged Robinhood to list the coin on its platform. It received nearly 3 lakh signatures.
Surprisingly, eight whale accounts control at least 70.52 percent of SHIB’s circulation, with one whale controlling 41.03 percent. This indicates that all of these whales made at least an 800% return on their investments in the previous month.
According to Coinbase, the price of SHIB coin has dropped by 25.10 percent in the last seven days. The price has dropped 7.04 percent in the last 24 hours. In the last hour, the price has dropped 3.01 percent.
