SHIB becomes second-most-trending token among 21,500 cryptocurrencies
SHIB has jumped to number two in CoinMarketCap’s ranking of the most trending cryptocurrencies. Among 21,497 crypto assets, Shiba Inu (SHIB) is currently second only to Aptos (APT), a former meta engineers turned high-profile newcomer to the blockchain market.
Among the potential reasons for increased interest in Shiba Inu is the provision of new concept art for the upcoming virtual universe, SHIB: The Metaverse. As the renderings show, part of the future Shiba Inu metaverse could include sandy locations reminiscent of parts of the Middle East.
The interest of crypto enthusiasts in the Shiba Inu can also be gauged by the news that the 100 largest holders of Ethereum collectively hold 12.2 trillion SHIB, amounting to 121.54 million. According to CryptEye, in addition to the ETH whale, SHIB also has 2.2 million other wallets, which is a significant number of people interested in the Shiba Inu project.
Shiba Inu (SHIB) price action
What is interesting is that the surge in interest in SHIB comes amid a decline in the cryptocurrency’s value. Down nearly 13% over the past seven days, SHIB has added another zero to its price and is now quoted at $0.0000099 per token.
There is no particular tragedy in SHIB’s price action. The token is quoted in a known price range at the July level. As long as the crypto market remains at low volatility and economic risks remain, we shouldn’t expect too many surprises – at least not bullish ones.
