Cryptocurrencies and the hip hop industry continue to intertwine as famous rapper Meek Mill plans to expand his portfolio with Shiba Inu. This comes shortly after he purchased Bitcoin and Dogecoin.
The skyrocketing popularity of meme coins, led by Dogecoin, caught the attention of multiple celebrities. The trend, perhaps started by Tesla’s CEO – Elon Musk, kept snowballing and is now deeply connected to the US hip hop scene.
Robert Rihmeek Williams, better known by his stage name Meek Mill, hinted about his first crypto purchase in January this year. Although he came in the game through more traditional option like bitcoin, he went into the meme coin craze in May by indicating on Twitter, “I just grabbed some Doge, I’m tired of missing out.”
During the weekend, the rapper highlighted plans to buy a portion of Dogecoin’s main competitor – Shiba Inu. As previously reported, the token is advertised as the “DOGE-killer,” and its popularity blossomed in recent months.
The price of Shiba Inu surged in early May when meme coins were pumping left and right. It went as high as $0.000038 per coin following a listing on Binance, and its market cap placed it in the top 20 crypto assets by that metric.
However, the market-wide market crash, and, perhaps the bubble burst of most meme coins, drove it south to $0.00000825 as of writing these lines. Meaning that SHIB is down 80% since its peak earlier this month.
Aside from Meek Mill, other famous rappers also showed interest in the crypto industry. Soulja Boy asked around on Twitter in early January whether he should invest in the space. Later on, he revealed several purchases of different crypto assets.
The legendary West Coast artist Snoop Dogg joined the DOGE craze by tweeting about it. Most recently, the rapper celebrated April 20th with a humorous galactic-themed video.
The Real Slim Shady (Eminem) also got a piece of the industry. As reported recently, the hip hop titan announced an NFT collection called Shady Con after a collaboration with Nifty Gateway.
Featured Image Courtesy of APNews