Shiba Inu More Popular Than XRP And ADA In Australia

Shiba Inu is more popular in Australia than XRP and ADA (Koinbox)

JAKARTA – Recently a survey conducted by Saxo Markets revealed that the Shiba Inu (SHIB) crypto is very popular in Australia. The popularity of the Shiba Inu outperforms Ripple (XRP) and Cardano (ADA).

Around five per cent of Australians said they knew about the meme coin, while 3 per cent and 2 per cent of respondents said they had heard of XRP and ADA. Even so, Bitcoin (BTC) still tops the list of the most popular cryptocurrencies.

As many as 38 percent of participants claimed to already know Bitcoin. While Ethereum (ETH), Binance Coin (BNB), and Dogecoin (DOGE) and Shiba Inu occupy the top 5 of the list of the most popular cryptocurrencies. Meanwhile only 1 per cent of Australians know the crypto Avalanche (AVAX).

Shiba Inu is more popular among millennials with an achievement of 7 percent. The dog token managed to steal the attention of investors and traders earlier this year due to its astonishing price increase performance that made other cryptocurrencies sink.

In addition, a survey was also conducted by Harris Poll for respondents in the United States. The survey results prove that Dogecoin is more popular than Ethereum for US investors.

Saxo Markets also conducted a survey on the possibility of crypto being used as a medium of exchange. The result is that 42 percent of respondents plan to use crypto as a means of payment if the government allows it. While 11 percent of Australians claim to understand “fully” what cryptocurrency is. About 25 percent of respondents agree that crypto is used as the official currency of the country.

Previously, El Salvador was in the world's spotlight because of its decision to make Bitcoin the country's official medium of exchange. But so far no other country has followed El Salvador's bold steps.

Launching U.Today, Treasurer Josh Frydenberg announced plans to overhaul the existing payment system in Australia so as not to lag behind Silicon Valley. The Australian government will assess the creation of a central bank digital currency (CBDC) while working on the regulatory framework for cryptocurrencies.