Citing the market capitalisation of the world’s second-largest memecoin, Rose pointed out that shiba inu is a “community worth $20 billion(£15.2m)”. The former Wall Street veteran said both canine coins had understood and capitalised “community”. Read more: Philip Hammond: Big finance's move into crypto is unstoppable Recent data from BrokerChooser analysed the online search volume of all cryptocurrencies and found that shiba inu topped the list of most actively searched cryptocurrency throughout the year.Ī statement from BrokerChooser said: "Shiba inu coin had just 70 Google searches in September 2020, but its popularity has exploded in the last year, with 1.5 million people searching for ‘shiba inu coin’ in September 2021, an incredible increase of 2.1m%."įormer banker and CEO of London Real, Brian Rose, spoke to Yahoo Finance about the unlikely rise of dogecoin, which began life as a “joke” response to the reverential sentiment surrounding bitcoin, and the even greater price hike of its younger spin-off shiba inu. Mainstream media outlets were quick to capitalise on the growing interest to exploit the higher audience engagement for increased advertising revenues. The steep appreciation in the value of the world’s two major memecoins saw a marked shift in media attention from the blue-chip cryptocurrencies, such as ethereum and bitcoin, to the rivalry of dogecoin and shiba inu and their dubious use cases.īy August, Google searches for shiba inu and dogecoin had dwarfed searches for the more serious crypto offerings. Shiba inu ( SHIB) increased in value by 83,000,000% since this time last year, and dogecoin ( DOGE) rose by 9,567% since the beginning of the year. The astonishing yearly gains of dogecoin, and its underdog rival shiba Inu, have stolen the limelight from the more serious crypto-offerings such as bitcoin and ethereum. The crypto bull cycle is far from over and throughout 2021, two memecoins became the surprise winners in terms of having almost parabolic price appreciation. Shiba Inu dog breed has soared in popularity after crypto tokens being named after it.
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