Interest in Shiba Inu, one of the powerful representatives of the “meme token” movement initiated by Dogecoin, continues to increase. Finally, SHIB listed on Coinbase pulled back after showing a good bullish performance. Despite the pullback in Bitcoin, we observe 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 rose from 536,300 on 21 June to 668,810. When we consider the investors who keep their SHIBs on centralized exchanges, we observe that the interest in SHIB has increased significantly after the collapse in Bitcoin.
The FOMO and the price’s abundance of zeros have an effect on the increase in this interest. Investors who think that they missed a great opportunity in Dogecoin, take their positions early in order not to experience the same in SHIB.
Offering the opportunity to buy a high number of tokens thanks to its price with plenty of zeros, SHIB adorns investors’ dreams of becoming rich.
We observe that SHIB’s verified Twitter account is close to 1 million. Time will tell if SHIB will manage to drop a few zeros on it like Dogecoin. However, when we look technically, we observe that the accumulation process continues.
*Not Investment Advice.