Shiba Inu ranks among most viewed crypto assets: CoinMarketCap Q1 report Shiba Inu ranks among most viewed crypto assets: CoinMarketCap Q1 report
The second largest meme coin Shiba Inu has been displaying impressive price actions this year, sparking the interest of traders globally.
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Updated: Apr. 4, 2023 at 1:10 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
CoinMarketCap’s Q1 2023 report ranked Shiba Inu among the most viewed cryptocurrencies on its platform after Bitcoin (BTC) and Baby Doge Coin (BABYDOGE).
This report suggests that investors across the globe are keeping tabs on the meme coin due to its recent price movements.
Shiba Inu closely tails Bitcoin in popularity
According to the report, Shiba Inu’s popularity skyrocketed in different continents — including North America, South America, Asia, Africa, Oceania, and Europe. The memecoin gained over 12.5% views among people living on these continents except in Europe — with only 11.56%.
Meanwhile, North America has been a buzzing hub for SHIB — receiving 20.39% views among crypto traders in the region.
However, BTC topped the list — ranking as the most watched with high views on different continents. BTC earned the least number of views in South America — with 36.78% — while Shiba Inu followed after Baby Doge Coin.
CoinMarketCap also discovered that over 1.84 million users have Shiba Inu on their watch list to track the coin’s movement in real-time — up from 1.809 million users in December 2022.
SHIB price rallies amid a spike in ecosystem activities
The Shiba Inu community witnessed a rapid rise in activities in March, particularly after the launch of Shibarium’s testnet — Puppynet.
Shibarium Puppynet received enormous support from the Shina Inu community — with a steady increase in adoption since March 11, when it went live. Puppy Scan data shows that Puppynet recorded over 100,000 wallets and over 800,000 transactions.
Per CoinMarketCap’s data, Shiba Inu’s price has increased by 5.30% over the last 24 hours. At press time, SHIB is trading at $0.00001141, and its seven days price gain stands at 11.52% while its trading volume is up by 175.83%.
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Shiba Inu (SHIB) is a decentralized meme token that aims to be the Ethereum-based counterpart to Dogecoin’s Srypt-based mining algorithm. According to SHIBA INU, the reasoning behind the creation of SHIBA is that Shibas constantly forget where they bury their treasure.
Baby Doge Coin
$0.00000
Baby Doge is a deflationary coin designed to become more scarce over time.