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- According to ICO Analytics, Shiba Inu, a meme-cryptocurrency, is the third most talked about cryptocurrency in the world
- While Ethereum is in first place with 10% of the vote, Bitcoin is in second place with 9.1%, and Shiba Inu is in third place with 8.2%
- Dogecoin, Elon Musk’s favorite cryptocurrency, is ranked fifth, while SafeMoon is ranked sixth
According to ICO Analytics, Shiba Inu, a meme-cryptocurrency, is the third most talked about cryptocurrency in the world, trailing only Ethereum and Bitcoin by a little margin. The poll looked at the period from July to August 10, 2021, and Shiba Inu was able to compete with top cryptos, demonstrating to investors that it is one of the most sought-after currencies in the world. In the most talked-about cryptos on the internet, Ethereum is in the first position with 10%, Bitcoin is in second place with 9.1%, and Shiba Inu is in third place with 8.2%. Elon Musk’s favorite cryptocurrency, Dogecoin, is ranked fifth, while SafeMoon is ranked sixth.
Traditional currencies have been replaced by meme coins
It’s amazing to see how meme-currencies have taken over the new financial sector in 2021, while traditional coins like Ripple (XRP), Cordano (ADA), and PolkaDot (DOT) have fallen behind. Shiba Inu was released in August 2020 and garnered instant prominence after Elon Musk, the inventor of Space X, invested in Dogecoin. Despite having the same patron saint of the ‘dog’ as their logo, SHIB and Doge have been at odds since then.
Dogecoin is aiming for the $1 level, whereas Shiba Inu is aiming for the one-cent mark. The question of who will reach the magical mark first is debatable, but only the market and, finally, time will be able to answer. Bigwigs in the crypto business have slammed Shiba Inu as a rip-off of Dogecoin, while influencer Matt Wallace once threatened to crash SHIB because he didn’t like Shiba Inu talking over Dogecoin in an eToro commercial.
DOGE and SHIB are expected to continue to rise in price, according to analysts
A panel of cryptocurrency experts estimated DOGE may be worth $0.42 (up 60% from its current price level) by the end of 2021, ahead of the recent price increase in DOGE and SHIB. The panel was surveyed by Finder, a price comparison website, which polled a total of 42 experts on what they expect to happen to DOGE prices in the future.
Dogecoin, Shiba Inu, and SafeMoon, the top three meme-currencies, are enticing new entrants into the crypto world, according to research, with the three coins bringing 78 million first-time investors to the market in 2021. Shiba Inu was trading at $0.00000787 at the time of publication, up +0.51 percent in the day’s trade, while Dogecoin was trading at $0.26, up +0.06 percent in the day’s trade. SafeMoon is currently trading at $0.0000020, a -14.51 percent loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
