Rise of Shiba Inu: 'Third Most Talked About Cryptocurrency' is Just Below Ethereum and Bitcoin

A survey released by the ICO Analytics shows meme-cryptocurrency Shiba Inu to be the third most talked about cryptocurrency in the world and is just behind titans Ethereum and Bitcoin by a small margin.

The survey studied the timeline from July to August 10, 2021 and Shiba Inu managed to stand shoulder-to-shoulder with leading cryptos showing investors that it's one among the most-sought after coins in the world.

Shiba Inu SHIB Cryptocurrency Coin Token

While Ethereum stands at first place with 10% points, Bitcoin comes second with 9.1% and Shiba Inu boasts of its third place with 8.2% in the most talked about cryptos on the internet.

Also, Elon Musk's favourite Dogecoin stands at the fifth position while SafeMoon comes at sixth.

It's startling to see how meme-currencies have taken over the new financial market in 2021 while traditional coins such as Ripple (XRP), Cordano (ADA), PolkaDot (DOT), among others are below the newer coins.

Shiba Inu was launched in August 2020 and gained overnight fame post Space X founder Elon Musk invested in Dogecoin. SHIB and Doge have been at loggerheads since then despite having the same patron saint of the 'dog' as their logo.

Dogecoin is waiting to reach the $1 mark, while Shiba Inu is hoping to touch the 1 Cent milestone. However, who would reach the magical mark first is up for debates but only the market and eventually time can answer.

Shiba Inu has faced stiff opposition by biggies in the crypto market who call it a 'rip off' of Dogecoin and influencer Matt Wallace had once threatened to ''crash'' SHIB simply because he didn't like Shiba Inu 'talking' over Dogecoin in the eToro commercial.

Matt had also called investors of SHIB ''annoying,'' and investors criticized him for selling his soul to Musk and Doge in the hopes of getting rich.

The top three meme-currencies Dogecoin, Shiba Inu and SafeMoon are luring new entrants into the crypto space and data shows the three coins have brought 78 million first-time investors to the market in 2021.

At the time of publishing, Shiba Inu was trading at $0.00000787 and is up +0.51% in the days trade while Dogecoin is trading at $0.26 and is up +0.06% in the days trade. SafeMoon is trading at $0.0000020 and is down -14.51%.

This article was first published on August 13, 2021