Shiba Inu (SHIB) will no longer be a joke cryptocurrency. Inspired by a dog meme and posing as a ‘Dogecoin killer,’ SHIB was the most popular cryptocurrency in 2021, surpassing Bitcoin and even Ethereum, according to the cryptocurrency price-tracking website CoinMarketCap.
According to CoinMarketCap, Dogecoin’s offshoot garnered more than 188 million views in the past year, while Bitcoin came in second place with 145 million views. SHIB is currently the thirteenth largest cryptocurrency on the earth, with a market capitalization of over $20 billion.
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Currently, Dogecoin is ranked third among the most viewed cryptocurrencies with 107 million views, whereas Cardano has approximately 86 million views and Ethereum has 81 million views.
On October 18, tech tycoon Elon Musk posted a photograph of the Shiba Inu meme traveling to the Moon, which is believed to have contributed to SHIB’s growth. Currently, the token was traded for $0.000026 per unit (Rs. 0.0020). According to CoinMarket cap, his post drove the coin’s price up by about 50 percent, to a maximum of $0.000044 (Rs. 0.0033).
Speculation in the crypto community that the SHIB will soon be listed on the popular stock trading app Robinhood may also be a significant factor. Additionally, a Change.org petition urged Robinhood to feature the token on its platform. It received nearly three million signatures.
This is not the first time that SHIB has been named the most-mentioned cryptocurrency. Shiba Inu was the most-discussed cryptocurrency in October, with a 22% share of all crypto property talks on the platform, surpassing Ethereum by 8.1% and Bitcoin by 7.4%.
SHIB fans have been using hashtags such as #SHIBARMY #ShibaSwap #shibainu #shibainucoin, and #SHIB to raise support for the meme coin on Twitter.
Currently, Safemoon, Solana, Cardano, and Binance are among the 10 most-mentioned cryptocurrencies on Twitter, according to the graph provided by ICO Analytics. However, none of the other cryptocurrencies came close to SHIB’s popularity.
Approximately 70.52 percent of SHIB’s circulation is apparently managed by eight whale accounts, with one whale accounting for 41.03 percent. This indicates that all of these whales earned at least 800% on their investments last month.
