Shiba Inu is currently the third most talked about cryptocurrency in the world and is just below Ethereum and Bitcoin, according to a study conducted by ICO Analytics ranging from July to August 10, 2021.
A recent report also shows meme-currencies such as Dogecoin, Shiba Inu and SafeMoon have brought in 78 million first time investors into the crypto market in 2021, making mostly millennials pump in their money in the hopes of a better life.
Also, data from Etherscan.io shows Shiba Inu is still managing to attract first time investors into its fold as around 1,000 'new' investors have been investing in SHIB coin each day.
Data shows that Shiba Inu currently has 631,931 holders and the number is growing close to 0.175% each day making it add 1,000 new investors to pump in their money on the token.
An important reason why new investors are choosing Shiba Inu is due to the coin's affordability. SHIB is available so cheap that an investor can buy 1 million coins for just $10.
Reports state that the developers are pushing the coin to be listed on many other trading platforms and opening new avenues for people to buy their tokens.
The launch of Shiba Swap also turned out to be a major indicator that the coin is delivering all its promises and in return gaining the trust of investors.
SHIB which is touted as the 'Dogecoin killer' began trading in green only since the last week of July and was down for close to three months post the Bitcoin crash in May.
Financial experts predict that Shiba Inu might hit the 1 Cent mark only after 2030 as the crypto market is on a cliffhanger due to the weak global economic conditions created by the Covid-19 pandemic and can face innumerable corrections.
Shiba Inu, at the time of publishing, was trading at $0.00000909 and is up +4.48% in the days trade. The coin is experiencing bullish sentiments and experts predict it can shoot up to another 40% from its current price and knock off a zero.