Shiba Inu outperformed Bitcoin and Ethereum to become the most viewed cryptocurrency in 2021 on the CoinMarketCap crypto data aggregator, with 188 million views. Dogecoin was ranked in the 3rd position among the most viewed cryptocurrencies in 2021 with 107 million views, followed by Cardano and Ethereum with 86 million views and 81 million views, respectively.
According to CoinMarketCap, the Dogecoin spinoff recorded more than 188 million views during the last 12 months, while apex cryptocurrency Bitcoin came in 2nd with 145 million views in 2021. Noteworthy that SHIB is currently the 13th largest cryptocurrency worldwide, with a market cap of over $20 billion.
Meanwhile, Dogecoin was ranked 3rd among the most viewed cryptocurrencies with 107 million views, while Cardano had around 86 million views, and Ethereum garnered 81 million views.
SHIB’s rise is speculated to be fuelled after tech billionaire Elon Musk tweeted a photo of the Shiba Inu meme going to the Moon on October 18. At that time, the token was trading at $0.000026. His tweet pushed the coin to nearly 50% to reach a high of $0.000044, according to CoinMarket cap.
Another important reason is also rumors floating in the crypto world that the SHIB will soon be listed on the popular stock trading app Robinhood. A petition on Change.org has also implored Robinhood to list the coin on its platform. It garnered almost 3 lakh signatures.+
Earlier, in October, data compiled by ICO Analytics revealed Shiba Inu was the most discussed crypto in October, receiving a 22% share of all crypto assets discussions on the platform, dwarfing Ethereum by 8.1% and Bitcoin by 7.2%.
Importantly, in 2021, there was a general uptrend in the news about cryptocurrencies. According to a data and analytics firm, there was a more than 400% increase in such talks.
“In 2021, social platforms statements about cryptos went up by close to 400%,” said Smitarani Tripathy, an analyst at GlobalData. “Tech specialists, blockchain gurus, CEOs, and financial professionals have a role in pushing crypto talks. Elon, Tesla’s CEO, has shown to be a most significant contributor. They act as a stimulus for essential cryptos like BTC and DOGE.”
On Twitter, SHIB supporters have been loudening their voices using hashtags such as – #SHIBARMY #ShibaSwap #shibainu #shibainucoin, and #SHIB – to rally support for the meme coin.
Meanwhile, cryptocurrency Safemoon, Solana, Cardano, and Binance were among the ten most discussed crypto coins on Twitter, as per the graph shared by ICO Analytics. However, none of the cryptocurrencies came even close to the popularity of SHIB.
Whereas SHIB leads the altcoins, Bitcoin maintains the most popular crypto in the internet cycles. Most Redditors and Twitter fans discussed BTC more than 881,900 times.
BTC’s interest shot up after the SEC okayed the Bitcoin futures ETF. The move saw several people talk about bitcoin, and eventually, it rose to $66,000 – a new all-time high.
Also, Elon Musk ignited a conversation on Bitcoins when Tesla stopped transacting in BTC. Tesla stopped taking BTC for payments citing environmental impacts it has during mining.
Interestingly, almost 70.52% of SHIB’s circulation is controlled by eight whale accounts, of which one whale holds 41.03%. This means all of these whales made at least 800% gains on their investments last month.