Interest in Shiba Inu, one of the powerful representatives of the “meme token” movement started by Dogecoin, continues to rise. Finally, SHIB listed on Coinbase pulled out after showing good bullish performance. Despite the pullback in Bitcoin, we see that SHIB continues to accumulate in a certain range.
According to Etherscan data, more than 100,000 new users have acquired SHIB in the last three months. The number of SHIB holders went from 536,300 on June 21 to 668,810. When we consider investors who hold their SHIBs on centralized exchanges, we see that interest in SHIB has risen significantly after the collapse of Bitcoin.
The FOMO and the fact that the price has many zeros affects the increase in this interest. Investors who think they missed a great opportunity in Dogecoin take their positions early so as not to experience the same in SHIB.
By offering the opportunity to buy a large number of tokens thanks to their high-zero price, SHIB adorns investors’ dreams of getting rich.
We note that SHIB’s verified Twitter account is close to 1 million. Time will tell if SHIB will manage to drop some zeros like Dogecoin. However, when we look technically, we see that the accumulation process continues.
* No investment advice.