Shiba Inu (SHIB) takes the spotlight with its recent surge in social activity and its impressive ranking of 2nd in LunarCrush's AltRank™.
Explore what makes SHIB a cryptocurrency worth watching, as we delve into the latest data and predictions that highlight its potential for growth.
SHIB's Social Activity on the Rise
On April 5, 2024, LunarCrush, a platform for cryptocurrency data analytics, shared several data points indicating that Shiba Inu (SHIB) is emitting bullish signals.
LunarCrush highlighted four main bullish signals for SHIB, and the official SHIB account also quoted this post, reporting that "SHIB's social activity is becoming more vibrant, and the community has never been stronger."
The bullish signals outlined by LunarCrush include:
- Increasing social activity
- Rising price action
- Accelerating market volume
- A very strong LunarCrush AltRank™ of 2
Understanding LunarCrush's AltRank™
One of the bullish signals mentioned is the AltRank™, a metric designed to compare the community and influence of cryptocurrencies. As of the time of writing, LunarCrush's official website ranks a total of 2,325 cryptocurrencies.
LunarCrush explains that evaluating a cryptocurrency project requires considering various factors such as whether the project is growing, if more people are getting involved, and if there are news articles being written about it. AltRank™ was developed to help capture such data.
AltRank™ is based on four metrics: market volume rank, social volume rank, performance against BTC, and social score rank.
LunarCrush states that cryptocurrencies ranked within the top 25 in AltRank™ are worth paying attention to. The recent report highlighting SHIB's placement as 2nd in AltRank™ underscores its current position as a particularly noteworthy project.
Despite the overall downturn in the cryptocurrency market leading to a decline in SHIB's price, the frequent reporting of SHIB-related news on cryptocurrency media and social networks serves as a significant indicator of SHIB's strength.
There are numerous bullish price predictions for SHIB, with cryptocurrency analyst Xanrox suggesting last month that "SHIB has the potential to rise more than 300%." Early Bitcoin investor Davinci Jeremy also expressed a bullish outlook, stating, "SHIB is a buy."
>> Read more about the latest SHIB-related articles here.
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