SHIB leads as Crypto Social Engagement Rises 457% in 2 Years

The demand for cryptocurrency and other digital assets has soared in recent years, and the bull market of 2021 witnessed a large influx of new investors. The analytics company LunarCrush’s data supports the rising popularity of the new asset class.

Data from LunarCrush shows that over the last two years, social interaction for cryptocurrencies has grown by an astounding 457.4%. Given the periods of boring and volatility in the cryptocurrency markets, the amount is unexpected.

Which cryptocurrency project had the most social interaction?
The adored Shiba Inu project is the one with the greatest level of social participation (SHIB). The two-year-old token has one of the greatest fan following, so this is not shocking. Additionally, Dogecoin (DOGE) was just eclipsed by SHIB in terms of Twitter followers.

In only 24 hours, SHIB had over 80,000 social mentions and over 9000 shared links, according to Twitter user CryptoDeb. LunarCrush is cited by CryptoDeb as the data source.

SHIB increased during the weekend before. The crypto project executed an inverted head and shoulder pattern (H&S) effectively, signaling a change in trend. One of the first to notice the change was seasoned trader Peter Brandt, who predicted that SHIB would rise going forward. SHIB was trading at $0.00001603 at the time of publication, up 30.3% over the previous seven days.

In addition, new tokens keep appearing despite the volatility in the bitcoin market. In the third quarter of 2022, 700 further tokens were issued, bringing the total to 20,575. The cryptocurrency market meltdown in 2022 severely damaged the sector. Nevertheless, it seems that the markets are improving. The worldwide crypto market value is presently at $1.19 trillion, down 0.6% over the last day, according to CoinGecko.

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