The cryptocurrency Shiba Inu (SHIB), which made a lot of noise in the past 2021 because of its enormous growth, has overtaken bitcoin in popularity. Shiba Inu (SHIB) has become the most viewed digital currency of the popular online service CoinMarketCap.
According to the platform Twitter, the altcoin was searched more than 188 million times in a year, which is almost 50 million times more than Bitcoin.
Overall, the top 5 most popular cryptocurrencies look like this:
Shiba Inu — 188 million searches;
Bitcoin — 145 million;
Dogecoin — 107 million;
Ethereum — 86 million;
Cardano — 81 million.
Elon Musk has played a significant role in the growing popularity of Shiba Inu
More than 1.4 million users follow the fluctuations of SHIB. That’s how many people added the coin to their watch lists.
American billionaire Elon Musk has played a significant role in the growing popularity of this cryptocurrency. Last year, he repeatedly mentioned in his Twitter and on television various meme-coins, including Shiba Inu (SHIB). He also got a Shiba Inu puppy named Floki.
Despite its popularity, SHIB is still extremely unstable
Despite its growing popularity among investors, this altcoin remains extremely unstable — it still reacts to social media trends. In addition, 70.52% of coins are held in 8 “whale” accounts, and 41.03% of them are held in just one account.
Shiba Inu is held at 14,600 active addresses. And the coin itself is listed on 447 crypto exchanges around the world, where it is trading at $0.00003672 per coin as of December 28.
The cryptocurrency itself wasn’t created until August 2020 as a “Dogecoin killer,” another meme-coin. It has since become the world’s 13th largest cryptocurrency by capitalization at $20.1 billion.
That said, it should be remembered that cryptocurrencies are an extremely volatile asset. Therefore, all investments in this sector should be made with maximum caution and only at your own risk.
The popularity of Shiba Inu can also be judged by the fact that in November it became the most discussed coin on Twitter. This coin accounted for 22% of mentions of all crypto-assets in general.