Crypto Currency News

Shiba Inu is already the third most wanted cryptocurrency of the year

The cryptocurrency meme was only surpassed by BTC and ETH.

In recent months, a flashy altcoin surprised the crypto ecosystem with its popularity on social media. This is Shiba Inu (SHIB), which in the last three months alone jumped by 800% to a record high of USD 0.000059. Although it is a minimum price, its capitalization and popularity are among the largest in the market.

Recent research by Bacancy Technology found SHIB to be the third most searched cryptocurrency on Google so far in 2021, behind bitcoin (BTC) and ether (ETH). The data surprised the entire crypto community, who expected better numbers for assets such as Cardano (ADA) or Dogecoin (DOGE), which were very popular in the first half of the year.

See also  650 United States banks will offer cryptocurrency trading services

SHIB averaged 2.8 million monthly searches; BTC posted an overwhelming lead at 22 million, followed by ETH at 6.3 million.

The price of the meme cryptocurrency has grown – and at the same time its trading volume – due to several factors, but mainly due to updates from ShibaSwap, the decentralized exchange behind the project, which burned millions of tokens and permanently removed them from circulation.

SHIB currently has a market capitalization of $ 35.6 billion, roughly $ 3 billion less than DOGE.

Tags
Back to top button
Close
Close