Shiba Inu, the popular dog-themed cryptocurrency, has surged to become the sixth most favored digital asset among American investors. While Bitcoin [58%] and Ethereum [37%], the top two cryptocurrencies by market capitalization, occupy the leading positions, SHIB has achieved a remarkable feat by outperforming major cryptocurrencies like Tether [USDT], Cardano’s ADA, and Solana [SOL].
Dogecoin [26%], famously endorsed by Elon Musk and recognized as the first meme coin globally, secured the third spot. Closely trailing behind were Binance [22%] and dollar-backed stablecoin USDC [18%], which were placed fourth and fifth, respectively.
In a recent survey jointly undertaken by ConsenSys and YouGov, SHIB claimed the sixth spot with the support of 17% of respondents. It edged out Tether, UST, and Solana, which ranked seventh with 16%, and Cardano, which secured the eighth position with 13%. The survey, titled “A Global Survey on Crypto and Web3,” involved 1018 American residents aged 18 to 65 and revealed that the majority of Americans have yet to explore cryptocurrency investments.
Approximately 43% of respondents expressed interest in entering the emerging crypto industry, while 18% remained undecided about investing. Shiba Inu’s prominent member and marketing specialist, Lucie, expressed pride in the token’s accomplishments, stating, “I’m immensely proud to witness Shiba Inu steadily and surely establishing itself at the pinnacle.”
Shiba Inu’s Charm Resonates In India
In the other parts of the word, notably in the Indian cryptocurrency landscape, Shiba Inu has emerged as a crowd favorite, dominating trading activity on the WazirX exchange throughout August. This meme-inspired coin shared the spotlight with XRP, associated with Ripple, and garnered significant attention from investors across the nation.
WazirX recently shared a list of the top five traded coins, featuring SHIB and XRP alongside the well-known names of Bitcoin [BTC], Ethereum [ETH], and Tether’s USDT, TronWeekly reported.
Shiba Inu, the meme coin that has been generating buzz, is now displaying signs of increased volatility, hinting at a potential reversal in trends. At the time of writing this article, SHIB was trading at $0.000007614, with an impressive 25% surge in 24-hour trading volume to $111 million. These fluctuations underscore that Shiba Inu is once again captivating the crypto community’s attention.