In reality, according to the survey, while SHIB’s popularity share on Twitter was 22 percent, Bitcoin’s popularity share was 8.1 percent, a considerable decrease from the previous year. Shiba Inu meme-coin, which is being touted as a Dogecoin competitor, appears to have gained another feather in its cap as a result of the development.
According to a graph published by ICO Analytics, the Safemoon, Solana, Cardano, and Binance tokens were also in the top 10 most talked-about cryptocurrency coins on social media. However, none of the cryptocurrencies came close to the level of popularity enjoyed by SHIB.
The first and second most valuable cryptocurrencies in the world, Bitcoin and Ether, were trading at or near their all-time high prices on Wednesday, according to CoinMarketCap data. Shiba Inu, on the other hand, was trading at $0.00005395 per token, according to CoinMarketCap data. On October 25, the dog-value coin’s increased by 50%, putting it in the top ten of the most valuable digital coins in terms of market capitalization.
Supporters of SHIB have been raising their voices on social media sites in recent days, as the token has been put squarely against Dogecoin in a competition. Shina Inu’s supporters are rallying around her on Twitter, using hashtags such as #SHIBARMY, #ShibaSwap, #shibainu, and #SHIB to show their support.
Top 20 most discussed cryptocurrencies on Twitter in October 2021. In the chart below you can find a share of mentions of each coin among top 150 coins by mcap.$shib $eth $btc $doge #safemoon $sol $ada $bnb $movr $dot $xrp $elon $luna $ftm $usdt $matic $cake $egld $avax $link pic.twitter.com/BEiufnqAUc
— ICO Analytics (@ICO_Analytics) November 6, 2021
On Twitter earlier this month, the CEO of the United States’ AMC Theatres asked people if they thought SHIB should be accepted as a form of payment for movie tickets. The response was positive. Of the 1,53,100 votes cast in the poll, 81.4 percent of the accounts supported the SHIB token, indicating widespread support for the cryptocurrency.
Shiba Inu token, which will be launched in August 2020, was invented by a person going by the pseudonym Ryoshi. The mascot of the SHIB token is a cartoonised portrayal of a dog face belonging to the Japanese breed of Shiba Inu, and it is based on the Dogecoin cryptocurrency.
Few days old, but something this “small” would result in a massive price increase over the years. Difference in DOGE and SHIB is that $DOGE has an infinite amount. $SHIB burns over time, lowering supply, increasing demand and price! $SHIB is a big long term winner imo! https://t.co/2CuOql3Ijm
— Father BullTrades (@FatherBT) November 1, 2021
SHIB is now held by 942,941 wallets, of which 14,645 are active addresses, according to CoinMarketCap’s database of digital assets. The SHIB token has a supply cap of one quadrillion units, and the token is currently in active development.