Twitter has become one of the main meeting and discussion points about cryptocurrencies, which is why we often see famous names in the industry getting into the platform trends. Recently a cryptocurrency was trending topics, but it caught attention for being a bizarre project, to say the least: the Shibnobi cryptocurrency (SHINJ), another cryptomeme.
As you can see from the name, Shibnobi is another Dogecoin clone, made with the aim of getting attention amid the wave of coins that use the Shiba Inu puppy as a mascot (SHIB, Dogelon Mars, Baby Shiba Coin and many others).
Still being just another meme, the cryptocurrency ended up managing to enter Twitter’s trending topics in the technology topic with almost 19,500 mentions.
As you can imagine, the coin’s entry into Trending Topics ended up encouraging a lot of those who decided to invest in the “micro coin”, also helping to inflate the coin’s share in daily Twitter affairs.
But what is SHINJA and why did it end up in Trending Topics?
Shibnobi is a meme coin that is a “sister” of Shib Inu (another clone) that is themed around a Shiba Inu Ninja, hence the play with the name Shinobi and other than that, that’s basically the whole project.
Just like Baby Doge Coin, which has been gaining a lot of popularity, the idea behind SHINJA is to get the cryptocurrency to rise in popularity so that many people believe that it will appreciate like Dogecoin/SHIB and then profit from this increase in recognition.
This has been a very popular tactic for several cryptocurrencies since Elon Musk’s jokes made Dogecoin skyrocket and make many people rich, so there is this attempt to replay the event.
But with both SHINJA and others at the same level, it’s pretty easy to see how fragile the plan behind the project is.
A detail that draws a lot of attention is the total supply of the coin, with no less than 69 setillion coins in total, a truly absurd number that is only seen in scams or shitcoins.
It is easy to notice this behavior in other ecosystems, just analyze what were the most talked about topics in the cryptomarket in November last year and SHIB was by far the most discussed topic.
It is also possible to see the presence of other meme coins being discussed in the period such as the Elon (Dogelon Mars).
This situation is no different from the ICO bubbles of 2018, when everyone tried to bet on a cryptocurrency that would appreciate a lot after launching in a pump scheme, many people lost money at that time and now it is important to be very careful not to commit the same. same mistake.