Dogecoin

Shiba Inu

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a> 
 </figcaption> 
</figure> 
<a href="https://u.today/shiba-inu-shib-investors-taking-profits-billions-move-on-exchanges" rel="noopener noreferrer nofollow">Shiba Inu</a> (SHIB) is showing growing popularity among new investors in the cryptocurrency space. This development is revealed by a new metric introduced by IntoTheBlock, a blockchain data analytics firm. The indicator focuses on the proportion of new addresses conducting their first transaction out of all active addresses on a given day, offering insights into the share of total activity attributable to <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">newcomers</a>. 
For Shiba Inu, this percentage recently leaped from around 30% to nearly 65%, signaling a surge in new investor interest in this token. It is a compelling turn for a token that emerged as a "meme coin," modeled on the popular Dogecoin but quickly establishing its own strong following. 
<img alt="Shiba Inu chart" data-entity-type="file" data-entity-uuid="01b808b5-78e7-4808-b2bd-09c13c3136fd" src="https://u.today/sites/default/files/inline-images/25072.png">Source: <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=all&amp;chart=all" rel="noopener noreferrer nofollow">IntoTheBlock</a> 
This surprising uptick in <a href="https://u.today/shiba-inu-shib-shows-surprisingly-solid-performance" rel="noopener noreferrer nofollow">SHIB's</a> new investor appeal could be tied to its resurgence as the reigning "meme coin king." This title appears to have been reclaimed from PEPE coin, another well-known entrant in the meme coin category. Meme coins, often started as jokes, have gained considerable attention in the crypto sphere, with tokens like <a href="https://u.today/doge-will-be-added-by-elon-musk-for-twitter-x-payments-raoul-pal-believes" rel="noopener noreferrer nofollow">Dogecoin</a> and Shiba Inu amassing substantial market caps and dedicated communities. 
<a href="https://u.today/shiba-inu-shib-investors-taking-profits-billions-move-on-exchanges" rel="noopener noreferrer nofollow">card</a> 
It is worth noting that the influx of new investors signals a broadening user base, potentially driving increased liquidity and stability in the token's trading. Moreover, the meme token's popularity might also suggest an expanding acceptance of such coins in the wider crypto market, hinting at a shift in investor sentiment and a potential trend for other such tokens to follow. 
However, as always in the cryptocurrency world, caution is advised. Meme coins, like Shiba Inu, are renowned for their volatility and unpredictability. New investors, in particular, should conduct thorough research and take into account the risks involved in trading these digital assets.

New Indicator Shows Shiba Inu (SHIB) Popular Among New Investors

U_Today

Other articles published on Jul 25, 2023

Pro-XRP attorney’s Twitter hacked to promote fake giveaways

Whale buys PEPE coins worth $6.7m despite price decline

Asia’s Web3 Regulatory Climate Warms Up: Animoca Brands

Outpost Season 14 - RD9000 25/07/23 @ 00:00 UTC FOR 24HRS

Cummins (CMI) Stock Showed Bears Dominance Ahead of Q2 2023

Elon Musk Sparks Shiba Inu Buzz Amidst Dogecoin’s Over 20K% Potential Rally

Join our free newsletter for daily crypto updates!