Meme Coin Manu SHIB Gains 10000% in Days

A new meme coin, Manu SHIB, has recently captured the attention of the cryptocurrency community, particularly among holders of Shiba Inu (SHIB). Launched on July 2, Manu SHIB operates on the Ethereum blockchain and has quickly gained traction, reaching a market capitalization of $28 million within days of its inception. Despite the growing competition from newer blockchains, the Ethereum network remains a preferred choice for meme coins due to its established infrastructure and widespread adoption.

The rapid rise of Manu SHIB can be attributed to several factors. Firstly, the token has garnered significant support from influential figures within the SHIB ecosystem. A Twitter Space event featuring the official SHIB account and well-known community members like Xander, Ivan, and Ragnar drew over 10,000 live listeners, amplifying the hype around Manu SHIB. This community backing has helped the token trend on platforms like CoinGecko, attracting the attention of meme coin traders.

Crypto creator Zach Humphries, in a recent YouTube video, highlighted the meme-driven nature of Manu SHIB, emphasizing that the token lacks any utility or use case. However, he noted that in the meme coin world, hype, timing, and community buzz often drive price movements more than any actual product. Humphries also cautioned viewers to conduct their own research and avoid chasing pumps blindly, while suggesting that early traders could benefit if Ethereum enters a bullish cycle.

The support from the SHIB community and the growing online buzz have contributed to the early success of Manu SHIB. The token's marketing strategy, which positions it as a pure meme coin similar to SHIB and PEPE, has resonated with traders looking for the next big opportunity in the meme coin space. As the cryptocurrency market continues to evolve, the rise of Manu SHIB serves as a reminder of the power of community and hype in driving the popularity of meme coins.