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If you are a social media creature like most of us, there is a chance you have come across the term SHIBARMY. The biggest and most loyal cryptocurrency support group in the market.
SHIBARMY supports the Shiba Inu token. A Cryptocurrency coin that has been in the market for less than two years.
Understanding Shiba Inu Token
SHIB as the coin is commonly known, is a crypto meme coin. These are fun coins and have become very famous lately.
It has a current market valuation of at least 28 billion dollars making it among the 15 biggest cryptocurrencies in the world.
After its launch, investors came together to form this group of SHIBARMY. It is a general term used in referring to this group of Shiba Inu token supporters.
If you are an investor in this coin, you can comfortably refer to yourself as a SHIBARMY member.
The Growth of Investment Support Groups
In the last few months. There has been an explosion of investment support groups targeting specific financial assets. They mostly comprise the retail investors.
This comes after the realization that retail traders can gain the power to move the market if they join hands.
It all started in the stock market earlier this year. Retail traders came together in pushing the price of some stocks such as the AMC. The results were successful as the stock price rose to cause a short squeeze to the larger institutional investors.
This is the success the Shiba investors are replicating and is having tremendous success so far.
Social Media Support
Bringing together such a huge number of investors in pushing a specific agenda is being supported by the power of social media channels. The biggest channels are both Reddit and Twitter.
Take a peep in these channels and you will find these topics trending. This happens almost daily as investors gang up to influence the price of a specific asset.
The recent Shiba token rally was partly driven through social media. The trending topics were supporting this rally causing more people to join in helping push the price higher.
Although the price is trading lower, the power of the SHIBARMY remains. It is just a matter of time before the next rally is triggered by this group of dedicated soldiers.
Criticism of Trading Support Groups
There have been some critics who argue that activities by such groups amount to market manipulation. This happens because the price does not follow the market pricing curve but is influenced by a group of people who decide to voluntarily inflate it.
This new form of market-ganging has caught both the regulators and investors by surprise as most of the existing policies do not cover this form of investing.
Future of the SHIBARMY
This group is a key example of how much power retail investors yield in the market if they decide to unite. The army’s influence is also spilling to other investment assets and can only get bigger in the future.
As the Shiba coin matures, it is key to follow closely the SHIBARMY actions as they could be key in determining the next price rally.