Cryptobetting.com’s study found that Shiba Inu (SHIB) is more popular than Ethereum (ETH) and Dogecoin (DOGE) in the United States. SHIB ranks second in popularity, just behind Bitcoin (BTC).
The study utilized search volume data to compare the top 100 cryptocurrencies by market cap. Bitcoin had the highest search volume of 1,910,000, followed by SHIB with 484,000. Dogecoin secured the third spot with 280,000 searches, while Ethereum came in fourth with 238,000 searches.
The high search volumes for SHIB are not unexpected, as the crypto token has gained popularity worldwide, not just in the U.S. However, it’s essential to recognize the significant gap in search volume between BTC and other projects. The numbers clearly demonstrate that Bitcoin remains the dominant crypto. Nevertheless, SHIB and DOGE, as the two most popular memecoins, continue to hold their own appeal and significance.
SHIB Faces Challenges Amid Uncertain Shibarium Launch
In 2023, SHIB has faced challenges with its performance, despite its immense popularity, as buying demand remains low.
The anticipated launch of the project’s layer-2 network, Shibarium, has not been officially scheduled, adding uncertainty to the token’s prospects. A successful launch could potentially boost demand and subsequently the asset’s price.
Investor confidence has been negatively impacted by the repeated delays and the absence of a definitive launch date.
However, users are hopeful that the network will debut in August, and according to NOWNodes, Shibarium is currently undergoing final tests in preparation for its launch.
Shiba Inu (SHIB) has successfully surpassed the $0.000008 level, a milestone it had struggled to achieve for several months. Currently, it is trading at $0.00000832, showing a 6.9% increase over the previous week. However, in the last 24 hours, its price has experienced a decline of 3.8%.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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