Shiba Inu’s popularity continues to spike across various parts of the world.
Leading cryptocurrency aggregate platform, CoinGecko has shared new data showing a growing interest in the meme-based token Shiba Inu this year.
The data was obtained from a study conducted by CoinGecko to determine the most popular meme-based token by the top 10 countries and regions with high interest in meme coins.
1/ Which countries are most interested in meme coins?
Our recent study shows that the #UnitedStates is leading the meme coin craze, accounting for 23.6% of the interest in 2023 so far with over 2M views of the top meme coin pages.
Read the full study: https://t.co/KI4AghcAiz pic.twitter.com/aMXthJKkIm
— CoinGecko (@coingecko) May 3, 2023
Shiba Inu Popularity Seen in US, India, and the Philippines
According to CoinGecko’s report today, Shiba Inu is the most popular meme coin in the United States, representing 60.78% of the country’s interest in meme-based cryptocurrencies beating PEPE, which garnered 11.8% in the US.
In a similar development, Shiba Inu ranked as India’s most popular meme coin, generating 55.8% of the country’s interest in meme coins. Furthermore, Shiba Inu garnered 18.3% of the Philippines’ interest in meme coins, making it the second-most popular meme-based cryptocurrency in the country.
Shiba Inu Ranks Ahead of BabyDoge
Per CoinGecko, people are far more interested in Shiba Inu this year than any other meme coin. CoinGecko explained that Shiba Inu accounted for 46.7% of interest among the top meme coins in 2023.
Other meme coins, like Baby DogeCoin (BabyDoge), Pepe (PEPE), Floki Inu (FLOKI), and Bonk (BONK), are far behind Shiba Inu in the ranking. Notably, BabyDoge has attracted 12.3% of interest in meme coins this year. Pepe got 9.4%, Floki Inu had 8.6%, and Bonk recorded 8.2% from top 10 countries that lead the meme coin craze.
Explaining the methodology used in the study, Coingecko examined the total number of page views year to date (YTD) for the top 15 largest meme coins on its platform.
The growing interest in Shiba Inu is also reflected in different areas, including the number of Shiba Inu followers on Twitter, which recently spiked to 3.7 million.
Notably, interest in Shiba Inu has exceeded the number of pages views the cryptocurrency gets on CoinGecko.
What’s Fueling Shiba Inu’s Popularity
Unsurprisingly, Shiba Inu ranked as the most popular meme coin in CoinGecko’s latest ranking. Shiba Inu has been in the news for the right reason since the beginning of the year. Despite the ongoing bear market, Shiba Inu has surged 22.3% year to date.
The spike comes from numerous positive developments in the cryptocurrency ecosystem. Interestingly, The Crypto Basic has reported most of these developments.
Earlier this year, Shiba Inu launched the beta version of Shibarium, a layer-2 scaling solution. The project has seen widespread adoption since its debut in March.
Data from PuppyScan shows that more than 14.05 million wallets have been connected to the network, with a total transaction of 4.71 million recorded so far. Shibarium Beta has a total block of 655,506 and an average block time of five seconds.
Furthermore, Shiba Inu’s ongoing burn campaign has continued to gain momentum, as millions of SHIB tokens keep getting burned daily. Yesterday, a new mysterious wallet burned a massive 2.005 billion SHIB tokens. In April alone, the Shiba Inu community burned 3.26 billion SHIB in different transactions.
The Crypto Basic has reported that crypto whales have continued to purchase huge amounts of SHIB regularly. As reported today, one of the Shiba Inu Whale Added 221 Billion SHIB, 348B in 7 Days.
Based on these positive developments, cryptocurrency investors worldwide are closely monitoring Shiba Inu.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.