SNEAK PEEK

• Shiba Inu outperforms most altcoins with a 22% rise in two weeks.
• Shibarium launch and SSI integration boost SHIB’s prospects.
• Most altcoins underperform, spotlighting Shiba’s unique success.

Over the past week, the crypto space buzzed with Shiba Inu’s standout performance. According to Santiment, a premier on-chain intelligence provider, the meme coin saw an astounding 19% surge in social volume. Consequently, its value shot up by 22% in two weeks. 

📊 Prices are mildly up for #altcoins today, but most mid & small caps are still struggling to gain any traction on the weekly timeframe. Many traders have shifted their focus to #ShibaInu, as the #memecoin is one of the few bright spots. $SHIB is +19% with rising social volume. pic.twitter.com/RNXashVDQo

— Santiment (@santimentfeed) August 10, 2023

As of the latest update, this second-largest meme coin by market cap trades at approximately $0.00001003. Significantly, while most mid and small-cap altcoins have languished, Shiba Inu has thrived.

Besides its recent social media traction, Shiba Inu’s success is rooted in its team’s efforts. Spearheaded by Shytoshi Kusama, the core development team dropped multiple impactful announcements. 

Moreover, whispers about the forthcoming Shibarium launch and integrating Self-Sovereign Identity (SSI) into SHIB’s layer two have fuelled the fire. This integration, experts believe, is a game-changer for the coin’s growth.

However, while Shiba Inu has succeeded, the broader altcoin market paints a contrasting picture. In the past fortnight, most mid and small-cap altcoins failed to impress, displaying disappointing results. 

This stark contrast in performance showcases the shifting dynamics of the cryptocurrency arena. Hence, while meme coins like Shiba Inu forge ahead, many other cryptos struggle to keep pace. As a result, this disparity in performance has caused market observers to turn their attention to Shiba Inu, with the meme coin emerging as a rare highlight.

In conclusion, Shiba Inu’s recent successes highlight the unpredictable nature of the crypto world. With its innovative approaches and strong team backing, this meme coin proves its mettle in a challenging market environment.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: https://investorbites.com/santiment-stresses-shiba-inu-exceptional-performance-with-19-surge-in-social-volume/