FunnyMike, a well-known YouTuber, rapper, and comedian, announced on his Twitter that he has bought $60k worth of Shiba Inu (SHIB) tokens. In the tweet, he said, “bought $60,000 worth of #shib this morning! Here goes nothing.”
While the 24-hour trading volume of the token rose by 31.52% and is currently at $10 billion, the chances of widespread adoption for Shiba Inu continue to increase.
Shiba Inu has been on a roll lately, entering the top 10 tokens in the crypto market and breaking on resistances while simultaneously defeating its rival meme token, Dogecoin.
There have been a number of anonymous buyers of the token who have bought billions of Shiba Inu tokens taking the coin up by more than 101% in the last 7-days. The supporters of the token are calling it the ‘dogecoin killer.’
Shiba Inu (SHIB) adoption shutting out Dogecoin
Elon Musk, the biggest supporter of dog tokens, recently revealed that he doesn’t own any Shiba Inu, and yet the currency continues to surge beyond everyone’s expectations. It seems that the token has picked up a lot of audience on Twitter, recently crossing 700,000 holders.
On the other hand, Dogecoin has dropped below Shiba Inu in terms of market cap and rose by only 15.5% in the last 14 days. Along with the continuous surge in popularity, the release of Shiboshis also contributed to the price of SHIB.
Shiboshi is a collection of 10,000 ‘exclusive Shiba Inu generated Non-Fungible Tokens’ that became very popular after its initial release. Furthermore, the Volunteer Project Lead of Shiba Inu, Shytoshi Kusama, announced on his Twitter that he would be dishing out 3 free Shiboshis, celebrating the success of the token.
Following the footsteps of Dogecoin and SHIB, another meme token, Floki Inu, flooded the streets of London with ads as it jumped to a market rank of #2713, reaching a new all-time high on 28th October, at $0.0001434. The message was displayed on buses and trains, saying, “Missed Doge? Get Floki.”
These meme tokens have their way of getting attention, and each token has proved to be quite a huge investment for users. However, there are many analysts who are still critical of these tokens. As reported by TronWeekly, Edward Snowden still remains critical of meme tokens.