• Shiba Inu (SHIB) has become a popular topic among crypto enthusiasts and it ranked 6th in terms of social engagement.
• Santiment’s social volume metric revealed an increase in the trading activity of SHIB, with the current volume standing at 250 million.
• An exact release date for Shibarium mainnet is yet to be announced, but recent updates from LucieSHIB suggest that the development process is still in progress.
Shiba Inu Gains Popularity
Shiba Inu (SHIB) has gained popularity among crypto enthusiasts and was ranked 6th according to Lunar Crush’s report on platforms with most social engagements. Additionally, Santiment’s social volume metric indicated an increase in trading activity of SHIB, with its current volume standing at 250 million.
Shibarium Beta Release
The anticipation surrounding Shibarium’s beta release has been growing since its introduction by Shiba Inu. While an exact launch date for the mainnet hasn’t been disclosed yet, LucieSHIB recently provided updates on the progress of its development.
Uptrend in Price
The prolonged hype surrounding Shibarium’s launch has boosted investor confidence in SHIB tokens, leading to a nine-day consecutive uptrend in their price.
Social Volume Decline
Although SHIB experienced a surge in trading activity due to investor confidence, Santiment’s social volume metric showed a decline over the past few weeks. The current social volume stands at 27 which is considerably lower than 889 observed around June 8th.
Conclusion
Shiba Inu’s ranking among top cryptocurrencies based on social engagements and increasing trading volumes suggest that its prolonged hype can help it reach new heights if Shibarium’s mainnet is released soon as expected.
