Shiba Inu Becomes The Most Popular Crypto In 2021 By CoinMarketCap

Shiba Inu to be the most viewed cryptocurrency of 2021. (photo: pixabay)

JAKARTA - Shiba Inu will become the most viewed cryptocurrency in 2021, surpassing Bitcoin, which has been claimed to be the number one cryptocurrency in the world.

This Dogecoin spin-off recorded over 188 million views over the past 12 months. While cryptocurrency pioneer Bitcoin is in second place with 145 million views in 2021. The data was released by cryptocurrency price tracking website CoinMarketCap.

Meanwhile, rival meme coin, Dogecoin, ranks 3rd on this list, with 107 million views, signaling the dominance of meme coins in the coming year. Meme coins are cryptocurrencies that originate from internet memes or pop culture.

Shiba Inu is a meme coin, inspired by the dog meme, which is one of the largest by market cap this year. The number of people holding Shiba Inu coins has increased significantly over the years, with the community now well above the one million holder mark.

In April, Elon Musk dubbed himself 'The Dogefather' in an SNL promo tweet, encouraging people to invest real money in crypto jokes. With Dogecoin growing enormously, Shiba Inu managed to take advantage of the remaining gap to become a competition.

Floki Santa pic.twitter.com/y3CTq16bGi

— Elon Musk (@elonmusk) December 25, 2021

The two digital assets have made many millionaires, dominating search queries and social media discussions. Dogecoin came out as the top search in 23 of the 50 US states in November. On social media platforms like Twitter, Shiba Inu and Dogecoin consistently appear on the most talked about lists.

The Shiba Inu also owes its rise to tech entrepreneurs and billionaires, such as Elon Musk who tweeted a photo of the Shiba Inu meme going to the moon in October. At that time, the token that was trading at US$0.000026 was pushed nearly 50 percent to reach US$0.000044 according to CoinMarketCap.

According to a Mirror.co.uk report, another factor that raised this crypto could be the rumors circulating in the crypto world that the Shiba Inu will soon be listed on the popular stock trading app, Robinhood. A petition on Change.org with nearly 300,000 signatures also asks Robinhood to list coins on its platform.

This is not the first time the Shiba Inu has been named as the most talked about cryptocurrency. In October, data compiled by ICO Analytics revealed the Shiba Inu was the most discussed crypto in October, receiving a 22 percent share of all crypto asset discussions on the platform, dwarfing Ethereum by 8.1 percent and Bitcoin by 7.2 percent.

On Twitter, Shiba Inu supporters have hyped the currency using hashtags like— #SHIBARMY #ShibaSwap #shibainu #shibainucoin, and #SHIB to rally support for the meme coin.

Meanwhile, cryptocurrencies Safemoon, Solana, Cardano, and Binance are among the top ten most talked about crypto coins on Twitter according to ICO Analytics.

Interestingly, nearly 70.52 percent of Shiba Inu circulation is controlled by eight whale accounts which are individuals or entities that hold large amounts of crypto. Only one of these whales holds 41.03 percent which means all these whales have made at least 800 percent profit on their investment in the last month.

The Shiba Inu coin is currently the 13th largest cryptocurrency in the world after Dogecoin at number 12, with a market cap of over 20 billion US dollars. There is a circulating supply of 549,063,278,876,302 Shiba Inu coins at this time.