Shiba Inu ($SHIB) dominance returns to Twitter, can price follow?

By Sunil Sharma
December 18, 2021 Updated December 18, 2021
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Shiba Inu announced via its official Twitter page that the holders of the meme coin are now over a million

Amid the ongoing bear and panic in the decentralised industry, Shiba Inu may come out as the dark horse of cryptocurrencies. Earlier today, according to the popular crypto page on Twitter, Whale Rumors, ‘#SHIB’ became the most mentioned hashtag in past 24 hours, further reinterating SHIB’s social media dominance. Additionally, towards the end of the day it was determined by crypto website, Watch Guru that #SHIB was in fact “the highest mentioned hashtag over a 72 hour period”. 

While Shiba Inu’s hashtag acquired first position, its meme token rival, Dogecoin’s hashtag followed SHIB in second place, continuing the close competition between the leading meme-coins.

SHIB’s market cap was standing at $17,54,14,57,280, trading at $0.000032 with a 24-hour trading volume of $1,11,17,58,777, along with a 0.15% decline over the last 24-hours, at the time of reporting. The altcoin has seen a constant decline since its monthly high by the end of November. However, the trending meme token could soon break out of a month-long price slumber through increased whale accumulation and rising social media dominance.

Image Source: Trading View

Shiba Inu dominance across all spheres

Despite being a mere meme token, Shiba Inu is conquering all decentralised milestones. Last month, the Shiba Inu’s team announced its exclusive venture, entering the metaverse. Shytoshi Kusama, the project lead at Shiba Inu games noted that to enable Altcoins’ transition into the Metaverse via the development of Play-to-Earn (P2E) NFT games, they recruited William David Volk, former Vice President of Tech at Activision, one of the largest game developers in the US.

The development of the Metaverse will commence in the new year, and will be built in-house by the SHIB team. Shytoshi Kusama, also highlighted that their Metaverse approach would be quite different from Facebook.

Furthermore, SHIB has also established itself in the commercial industry with giants like AMC, which is the largest movie theatre chain in the United States, allowing Shiba Inu payments. Along with AMC, the electronic retail giant, Newegg recently took to Twitter to make the official announcement about accepting SHIB payments for its products.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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