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Shiba Inu continues to dominate social media, but despite that, the price is falling

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Shiba Inu is still incredibly popular among crypto investors. However, the popularity has not been able to stop the downward trend. The SHIB price is down almost 50% from its all-time high, with the token now trading around $0.000050. The price hype has therefore decreased, but the social media statistics seem to show a very different picture.

Shiba Inu is the undisputed king of Twitter

Shiba Inu has dominated social media for the past few weeks. Since the huge price rally was started, interest around the token has grown rapidly and this was reflected on Twitter and Facebook. In fact, not a day goes by without SHIB trending and most notably, despite the SHIB price already starting to decline in October, it was by far the most popular crypto on social media.

Shiba Inu is still the most talked about crypto on Twitter, according to data from research firm ICO Analytics. More than 22 percent of the discussions surrounding crypto were about SHIB. That is a huge volume, especially when compared to Dogecoin, which was mentioned in ‘only’ 4.8% of the discussions.

Shiba Inu even overtook Bitcoin and Ethereum in terms of social media volume. Bitcoin and Ethereum were mentioned in 7.2 percent and 8.1 percent of the discussions. So that makes SHIB the undisputed king of Twitter.

Will Robinhood Add Shiba Inu?

The petition to have Robinhood add Shiba Inu to the platform is also extremely popular. In just a few months, it has already collected more than 520,000 signatures. This number would be enough to get the attention of any company and it succeeded. Robinhood has heard the SHIB community loud and clear. But it is still questionable whether the trading platform will add the token.

There was much hope among Shiba Inu investors that the token would indeed be added after Robinhood sent out a survey asking its users what cryptocurrencies they had bought. Shiba Inu was added to the list. Many took this as a sign that the company was getting ready to list the meme coin. However, this turns out to be less easy than expected.

Robinhood’s COO, Christine Browne, said the platform is extremely cautious about adding volatile tokens to its platform. This is because these types of coins can be dangerous for users of the platform. She also said that it could even be against regulations to list all tokens just like that.

“Our strategy is a little different from a lot of the other players out there who are just racing to add as many cryptos as possible. We believe that the short-term gains we could make are not worth the long-term trade-off for our users.”

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