Shiba Inu beats Bitcoin as the most popular crypto of 2021


Shiba Inu coin is currently the 13th largest cryptocurrency in the world.

Shiba Inu becomes the most viewed cryptocurrency in 2021, surpassing Bitcoin, it has been claimed.

The Dogecoin spinoff recorded more than 188 million views during the last 12 months, while pioneer cryptocurrency Bitcoin came in second with 145 million views in 2021, according to cryptocurrency price-tracking website CoinMarketCap.

Meanwhile, rival meme coin, Dogecoin, placed 3rd on this list, with 107 million views, signalling a dominance of meme coins in the coming year. Meme coins are cryptocurrencies that originate from an internet meme or pop culture.

Shiba Inu is a meme coin, inspired by a dog meme, that has become one of the biggest by market cap this year. The number of people holding Shiba Inu coins has significantly increased over the year, with the community now being well above the one-million-holder mark. 

In April, Elon Musk dubbed himself ‘The Dogefather’ in an SNL promo tweet, prompting people to invest actual money in the joke crypto. With Dogecoin growing incredibly large, Shiba Inu managed to capitalise on the gap left for there to be a competition.

Both digital assets have made their fair shares of millionaires, dominating search queries and social media discussions. Dogecoin came out as the top search in 23 of the 50 US states in November. On social media platforms such as Twitter, Shiba Inu and Dogecoin have consistently appeared on the most talked-about lists.

Shiba Inu also owes its rise to tech entrepreneur and billionaire Elon Musk who tweeted a photograph of the Shiba Inu meme going to the moon in October. At the time, the token which was trading at $0.000026 (£0.000019) was pushed to nearly 50 per cent to reach a high of $0.000044 (£0.33), according to CoinMarketCap.

Another factor could be the rumours floating in the crypto world that Shiba Inu will soon be listed on the popular stock trading app, Robinhood. A petition on Change.org with almost 300k signatures has also implored Robinhood to list the coin on its platform. 

This is not the first time Shiba Inu was called the most discussed cryptocurrency. In October, data compiled by ICO Analytics revealed Shiba Inu was the most discussed crypto in October, receiving a 22 per cent share of all crypto assets discussions on the platform, dwarfing Ethereum by 8.1 per cent and Bitcoin by 7.2 per cent.

Elon Musk’s dog is a Shiba Inu named Floki.

On Twitter, Shiba Inu supporters have been hyping up the currency using hashtags such as— #SHIBARMY #ShibaSwap #shibainu #shibainucoin, and #SHIB to rally support for the meme coin.

Meanwhile, cryptocurrency Safemoon, Solana, Cardano, and Binance were among the ten most discussed crypto coins on Twitter according to ICO Analytics.

Interestingly, almost 70.52 per cent of Shiba Inu circulation is controlled by eight whale accounts which are individuals or entities that hold large amounts of crypto. Just one of these whales holds 41.03 per cent meaning all of these whales have made at least 800 per cent gains on their investments in the last month.

Shiba Inu coin is currently the 13th largest cryptocurrency in the world closely following Dogecoin at number 12, with a market cap of over $20 billion.  There is a circulating supply of 549,063,278,876,302 Shiba Inu coins at present.



Top 5 Cryptocurrencies of the year

  • Shiba Inu (SHIB)
  • Bitcoin (BTC)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Ethereum (ETH)


MORE :
What is Shiba Inu coin and how much does it cost in the UK?


MORE : Wolf of Wall Street Jordan Belfort calls Shiba Inu meme coins a joke





Source link