Despite Impressive Social Performance, SHIB Price Can’t Get Out of Sideways Drift
The Shiba Inu remains a highly popular project for at least the last week, as demonstrated by social performance metrics provided by analytics agency LunarCrush. Digging deeper into the Shiba Inu’s statistics, the eye immediately notices double-digit figures in the development of such social metrics as mention (+45.1%) and dominance (+35%).
Despite the excellent values of the above indicators, a closer look shows that the amount of spam related to SHIB has increased by 63.6%. And it perfectly describes the Shiba Inu and its highly active community, the Shib Sena. Pure chaos and contradiction have been with the project from the beginning and can somehow be considered a thread of SHIB.
This can also be seen in other LunarCrush metrics regarding the Shiba Inu. For example, both bullish (+45.5%) and bearish (+53.4%) sentiment prevails around the project with almost identical prices, but the bears are still holding the lead.
Who’s going to get SHIB off the sidewalk?
The bear versus bull battle looms large not only on the topic of market sentiment, but also in relation to the question that has haunted SHIB and casual traders for nearly a month: who, or perhaps what, is pushing SHIB off the edge. Is the flow going to drain?
For almost a month, since May 11, the price of SHIB hasn’t been able to leave the 0.00001-0.00013 corridor, and it’s exhausting. Neither the announcement of the adoption of SHIB as a payment method nor the burning of records helped the Shiba Inu quotes to break away from this disgusting trend. The current situation has opened the door to speculation, and the bears seem to be in more control.