![Deciphering why Shiba Inu [SHIB] was left out of the recent meme craze](https://i.headtopics.com/images/2023/5/8/cryptoamb/deciphering-why-shiba-inu-shib-was-left-out-of-the-deciphering-why-shiba-inu-shib-was-left-out-of-the-1655415476049129474.webp)
SHIB lacked significant capital inflow, leaving its price at the mercy of investors who preferred to pump other memes.
is paramount to hiking the price of a meme. But for SHIB, it has not been the case. As a matter of fact, the Shiba Inu ecosystem was struggling with embracing new addresses as indicated by the network growth.
As of this writing, the network growth decreased to 395. This fall implies that the daily level of interaction and first-time transactions was nothing to be elated about.Subsequently, the social volume seemed to have made up for the decline in the metric discussed above. A look at Santiment’s data showed that the SHIB social volume increased from the plummet in April.
Social volume estimates the number of unique text documents on several social media platforms. This hike ensured that the metric rose to 2,700 on 6 May.has not been able to positively affect the SHIB price. According to CoinMarketCap, the token value shrunk 8.23% of its value in the last seven days.decreased from 1.32 million on 27 March. While it was able to recover to 1.29 million, the trend suggested that some holders sold.
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