Internet Computer, Safemoon, Shiba Inu — Altcoins Seeing High Social Media Interest Today

The following three altcoins were seeing a high amount of social media interest in the early hours of Monday.

SafeMoon (CRYPTO: SAFEMOON): The Dave Portnoy-endorsed cryptocurrency has a model which rewards long-time holders and charges investors a 10% fee to sell their tokens. SAFEMOON has gained the attention of the social media crowd of late. Recently, its CEO John Karony revealed that the project’s chief blockchain officer was involved in the partnership between Elon Musk-led SpaceX and Dogecoin (CRYPTO: DOGE).

See Also: How To Buy SafeMoon (SAFEMOON)

SAFEMOON was on the fifth spot in CoinMarketCap’s list of trending cryptocurrencies at press time. The cryptocurrency traded 5.61% higher at $0.000003188 at press time. Against Bitcoin (CRYPTO: BTC), SAFEMOON rose 1.92%.

SHIBA INU (CRYPTO: SHIB): SHIB is styled as a so-called “Dogecoin killer.” A notable difference between the rallies that have fueled both DOGE and SHIB is the crowd supporting the respective meme coins. SHIB is fueled by Chinese social media influencers on platforms such as Weibo and WeChat, while DOGE finds backers on Twitter Inc’s (NASDAQ:TWTR) social media platform and Reddit.

SHIB’s most recent boost came on Friday after Musk disclosed that his Shiba Inu dog will be named Floki. A new cryptocurrency called Floki also skyrocketed after the announcement. 

At press time over 24 hours, SHIB traded 6.26% higher at $0.000007801. The meme coin is up 1.83% over a seven-day trailing period. FLOKI traded 46.4% higher at press time against Wrapped Ether (CRYPTO: WETH). 

Internet Computer (CRYPTO: ICP): ICP is a token of a cloud computing project built initially by DFINITY. The token only listed on CoinMarketCap last month but emerged as a top coin in terms of market capitalization. The project aims to extend the functionality of the internet so as to allow it to host backend software, as per DFINITY. This pitches the project against cloud bigwigs such as Amazon.com, Inc (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT).

See Also: Crypto Market Firm Despite Binance Woes; Internet Computer Spikes 37%, Dogecoin, Meme Coins In Focus With Elon Musk Tweet

ICP was the top gainer at press time on Monday on CoinMarketCap’s list. The coin traded 45.37% higher at $43.94 at press time. It also figured on Stocktwits list of ten top trending streams at the seventh place.

Read Next: Are These Three Factors Keeping Dogecoin Distant From The Moon?