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 Surpasses Dogecoin and Cardano in Search Interest

Shiba Inu has gained popularity among crypto investors, surpassing Cardano and Dogecoin in countries with a significant crypto investor presence. Google Trends data reveals that interest in Shiba Inu has surpassed that of Dogecoin and Cardano in Canada and the United States over the past 12 months. Although Dogecoin had previously experienced spikes in search interest, Shiba Inu has consistently attracted more attention since April 2023.

In September, the interest in Shiba Inu was more than double that of Cardano and Dogecoin. Even during the crypto market crash in August, Shiba Inu 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 in Profitability

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

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In terms of price performance, all three cryptocurrencies have experienced similar declines from their all-time highs. SHIB is down 91.49%, while Dogecoin and Cardano are down 91.59% and 91.89%, respectively.

Hot Take: Shiba Inu Continues to Attract Crypto Investors

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Despite its lower profitability compared to Dogecoin, Shiba Inu remains a favorite among crypto investors. The meme coin’s consistently high search interest and its position ahead of Dogecoin and Cardano indicate that it has captured the attention of the market. With the recent launch of the Shibarium blockchain, Shiba Inu has seen renewed interest and continues to be a prominent player in the crypto space.

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