Shiba Inu Leads Social Media Engagement Among Memecoins

According to CryptoPotato, Shiba Inu (SHIB) has topped social media engagement among memecoins, with nearly 24,000 posts and over 85 million interactions. The social media analytics tool LunarCrush estimated that the token has the most devoted community. Dogecoin (DOGE), the largest memecoin by market capitalization, ranked second with 22,300 posts and almost 50 million interactions on social channels. Pepe Coin (PEPE) and Floki Inu (FLOKI) were third and fourth, respectively, while Bonk Inu (BONK) rounded up the top five. Bonk Inu, a Solana memecoin, experienced a significant 400% growth in 30 days, highlighting the volatile nature of memecoins. BONK's market capitalization briefly surpassed the $800 million mark, positioning the asset as the third-largest in the entire memecoin realm. Such assets are often based on trends and could experience rapid price swings in both directions, offering investors the chance to make substantial profits but also hiding risks of appalling losses. Shiba Inu's layer-2 scaling solution, Shibarium, has recently made headlines as it surpassed two major milestones: total blocks exceeding 2 million and transactions surpassing the 90 million level. Shibarium aims to elevate Shiba Inu above its rivals by lowering fees and improving speed. Its further advancement has been touted as a main factor that could lead to a potential SHIB price rally. The token has soared a mere 3% in the past seven days and 17% on a two-week basis.