Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Dog-themed coin Shiba Inu never fails to make noise. With the gripping crypto market crash happening, majority of American investors have hit the panic button and consider selling their digital assets – at which SHIB happens to top the list.
Different states in the US such as New York, Florida, Tennessee, and Nevada are looking for many ways to sell their SHIB.
The “king” of cryptocurrencies, Bitcoin, is trying to hold on to dear life and stay above the critical level of $20K. Many investors in over 17 US states that comprise Illinois, Oregon, Pennsylvania, and Kansas have expressed desire to sell BTC.
Suggested Reading | Bitcoin At $20K Could Be ‘New Bottom,’ Commodity Expert Suggests, And Here’s Why
Google Trends: Shiba Inu Most In-Demand Digital Asset
The stats were derived from a study using Google Trends that compare the two digital assets using keywords or phrases such as “Sell Shiba Inu” and “Sell Dogecoin.”
The study provides crucial insights on what cryptocurrency do most investors sell and information as to where these cryptocurrencies are sold in the United States. Shiba Inu appears to be the most popular crypto being sold online. These insights are relevant because it can impact current and future prices.
The list is led by the two meme coins, SHIB and DOGE which are both very popular and in-demand assets.
Dogecoin currently is in the third place, with investors coming from eight major states like North Carolina. In other states, Cardano and Ethereum also were most vetted with investors coming from three to four states who wanted to sell the tokens.
BTC total market cap at $4.35 billion on the daily chart | Source: TradingView.com
There was a time this year wherein DOGE surpassed SHIB in terms of the most-searched-for token category in all 23 states in the United States. DOGE ranked third while the most popular meme coin, SHIB was in the fourth spot.
Investor Interest For Meme Coins
It seems that investor interest has waned a bit when it comes to meme coins. Critics would contend that the meme coins’ popularity and value is all based on hype and can be unreliable.
More so, critics also mentioned that these meme coins don’t have much utility. However, this seems to be untrue because there are some uses seen for payments.
Suggested Reading | Ethereum Drops Below $950 On Uniswap Overnight – Here’s Why
With the current perplexing state of the crypto economy, more Americans find it an urgent need to sell digital assets.
SHIB price has increased to as much as 14% in just one hour and 25 minutes. Bitcoin value improved as well as it spiraled way up to $22,340, following U.S. Federal Reserve Chairman Jerome Powell’s statement that huge rate hikes may not be common which did alleviate investor worries.
Shiba Inu, the leading meme coin, remains to rank as the 17th largest cryptocurrency as of this writing.
Featured image from Cointribune, chart from TradingView.com
