In my previous post I wrote how online communities play a vital role in promoting a crypto project and driving popularity to a crypto like the ones that are the most popular Dogecoin and Shiba Inu.
Shiba Inu (SHIB) gained a very good popularity since it's establishment and it's seen as largely because of it's passionate community known as the "Shib Army", that has been behind supporting it.
Source: Capital.com
The Shib army is a community that decentralized and are enthusiasts about Shib dedicating theirselves in promoting and bringing value to Shib Inu.
They do this through campaigns on social media, memes and other stuffs.
The outcome is that they have been successful in creating a buzz and interest around the meme coin Shib Inu which has also helped it's value increased significantly in a short span of time.
The current market cap of Shiba Inu has over $7.9 billion making it one of most valuable crypto out there in the market.
Not only that, Shiba Inu's strong community has also caused several big crypto exchanges to list the coin which has further helped in increasing it's value and legitimacy.
Shiba Inu is the 13th largest cryptocurrency in the market by marketcap.
Nevertheless, meme coins like Shiba Inu and Dogecoin have grabbed some good attention in the crypto market but we should also not forget that investors also view them as risky and speculative investments as they lack real world application and their value is mostly based on speculation.
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