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Amid the massive market drawdown, popular social intelligence platform LunarCrush highlights Shiba Inu’s impressive performance in social and market activities in the past six months.
According to LunarCrush data, Shiba Inu has witnessed a massive boost in its social and trading metrics in the past six months.
📸SNAPSHOT: $SHIB
6M Social + Market Activity
Social interactions +2,760%
Active creators posting +2,805%
Price +53.7%
Trading volume +452%https://t.co/tSY3x4AD1a @Shibtoken pic.twitter.com/wQeWwm65iZ— LunarCrush Social Intelligence (@LunarCrush) August 5, 2024
Shiba Inu’s Social Activity
Particularly, SHIB performed well in terms of social interactions, the number of social media posts created, active creators’ postings, and posts with interaction.
The meme coin recorded an increase of 2,760% regarding its social interactions in the past six months. This suggests that social media posts, including tweets about the token, skyrocketed by 2,760%.
Regarding the number of social media posts created for Shiba Inu, this metric surged by 2,794%. Out of the total figure, the number of posts with interaction increased by 3,467% in six months.
Additionally, there has been a surge in the number of active creators posting about Shiba Inu within this timeframe. This metric saw a remarkable growth of 2,805%. Nonetheless, Shiba Inu’s social dominance and sentiment dropped 4.3% and 6.8%, respectively.
Trading Metrics
Furthermore, LunarCrush also shed light on Shiba Inu’s trading performance over the past six months. Per the data, the price of SHIB surged 53.71% in the past six months to $0.00001358.
Interestingly, Shiba Inu has recorded a double-digit gain despite recently experiencing one of its major declines since the FTX saga. The Crypto Basic reported that SHIB’s price slumped over 20% on August 5, plunging to a daily low of $0.00001087. However, the asset witnessed a quick recovery that saw it bounce to over $0.00001300.
Under LunaCrush’s trading metrics, Shiba Inu’s market cap grew by 53.7% in the last six months. Lastly, LunarCrush’s data shows that SHIB’s trading volume substantially increased by 452% within this period.
Overall, Shiba Inu’s galaxy score increased by 1 in six months, earning it the 256th position on LunarCrush’s AltRank.
SHIB Current Performance
Meanwhile, Shiba Inu is currently trading at $0.00001391, up 25.72% over the past 24 hours. At press time, SHIB’s market cap stands at $8.18 billion, making it the 13th biggest token globally.
Moreover, Shiba Inu’s daily trading volume has surged 42.04% to $823.54 million. This places SHIB in the 17th position in terms of crypto assets with the most trading volume.