• Shiba Inu is one of the top 10 cryptocurrencies with high social engagement.
• SHIB’s trading volume has seen a surge and exceeds 250 million.
• Shibarium, the mainnet of Shiba Inu, is in progress and still awaited by many crypto enthusiasts.
Shiba Inu Ranks High in Social Engagement
Shiba Inu [SHIB] cryptocurrency is gaining significant traction among crypto enthusiasts with its rising popularity. According to Lunar Crush, SHIB ranks sixth in terms of social engagements, sharing the ranks with renowned projects such as Ethereum and Bitcoin. Santiment’s social volume metric also revealed an increase in Shiba Inu’s social volume over the past few weeks.
SHIB Volume Surges
The recent days have seen a considerable spike in the trading activity of SHIB on Santiment. Compared to its average volume of around 100 million before June, SHIB currently has a recorded transaction value that surpasses 250 million. This surge indicates an increased interest from investors towards this token which appears to be continuing to grow over time.
Anticipation for Shibarium Release
The launch of the Shibarium testnet was met with much enthusiasm from crypto traders who are now awaiting the release of the mainnet version eagerly. Though no exact date has been disclosed yet, progress reports on LucieSHIB suggest that development work on Shibarium is underway and expected to be completed soon.
Will Social Hype Help Shiba Reach New Heights?
With positive metrics indicating increasing social engagement and trading volumes, it remains to be seen whether this newfound hype will help propel SHIB further up into new heights or not. It could also be possible that this heightened anticipation peters off once Shibarium finally launches as traders look for newer opportunities elsewhere among other altcoins or tokens.
Shiba Inu’s meteoric rise has definitely caught everyone’s attention but whether it will continue or not depends on how well its launch goes and what new developments follow afterwards if any at all!