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Crypto Investor Proclaims That India Is Experiencing FOMO Over SHIB

By Aaron - Crypto Specialist - 03-11-2021


Meme-coins are having a great year as we see all-time highs with many dog-themed tokens. Investors buying Shiba Inu (SHIB) tokens are especially having a great year as the coin has seen quite a few price spurts. However, certain locations around the globe are witnessing a real Fear Of Missing Out (FOMO) when it comes to buying SHIB. One example seems to be India as a crypto investor who has come forward to say the country is experiencing a need to buy SHIB ahead of the festival of light

The Diwali festival, also known as the festival of light, which is celebrated across India, is fast approaching and starts on Thursday, 4 November. Ahead of this globally known celebration, many cryptocurrency investors in the country are getting the urge to purchase SHIB tokens. According to a report posted by the Hindustan Times, believers pray to the Goddess of money for health, wealth, and prosperity on 4 November. They also visit their families and friends to offer gifts. However, according to CoinDesk, an article stated that the 4th is considered the best time to purchase investments because an extraordinary amount of people are buying equities and commodities. 

This year for the first day of the festival, CoinDesk had reported that many citizens are eyeing Shiba Inu tokens instead of the typical gold investments. According to local Indian exchanges, SHIB is the most affordable crypto market investment, yet it is the most "hyped" token. One exchange owned by Binance, WazirX, has a trading pair of SHIB-INR with rates of 0.005093 rupees.

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