The Rising Popularity of Shiba Inu: Countries Favoring it Over Dogecoin and Cardano

The Rising Popularity of Shiba Inu: Countries Favoring it Over Dogecoin and Cardano

Shiba Inu (SHIB) Surpasses Dogecoin (DOGE) and Cardano (ADA) in Search Interest

Shiba Inu (SHIB) has gained popularity between cryptocurrency investors, surpassing Cardano (ADA) and Dogecoin (DOGE) in countries with a whole lot of cryptocurrency investor presence. Google Trends data outlines that interest in Shiba Inu (SHIB) has surpassed that of Dogecoin (DOGE) and Cardano (ADA) in Canada and the  United States in the previous 12 months. Despite the fact that Dogecoin (DOGE) had previously experienced spikes in search interest, Shiba Inu (SHIB) has consistently attracted more attention since April 2023.

In September, the interest in Shiba Inu (SHIB) was more than double that of Cardano (ADA) and Dogecoin (DOGE). Even during the cryptocurrency market collapse in August, Shiba Inu (SHIB) saw an increase in interest. This surge in interest coincides with the launch of the Shibarium blockchain, which sparked renewed interest in the SHIB token.

SHIB Lags Behind Dogecoin (DOGE) in Profitability

Although while Shiba Inu (SHIB) leads in terms of interest, it has not translated into profitability for its holders. Only 9% of SHIB holders are as of now seeing any kind of profit, compared to 41% for Dogecoin (DOGE) holders. Nonetheless, SHIB still outperforms Cardano (ADA) in this regard, as only 4% of ADA holders are in profit.

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In terms of  price performance, all 3 digital currencies have experienced similar declines from their all-time highs. SHIB is down 91.49%, while Dogecoin (DOGE) and Cardano (ADA) are down 91.59% and 91.89%, respectively.

Hot Take: Shiba Inu (SHIB) Continues to Attract Cryptocurrency Investors

Regardless of its lower profitability compared to Dogecoin (DOGE), Shiba Inu (SHIB) remains a favorite between cryptocurrency investors. The Meme Coin coin’s consistently high search interest and its position ahead of Dogecoin (DOGE) and Cardano (ADA) indicate that it has captured the attention of the market. With the recent launch of the Shibarium blockchain, Shiba Inu (SHIB) has seen renewed interest and continues  to be a prominent player in the cryptocurrency space.

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