Shiba Inu has been the most popular cryptocurrency in new wallets over the past week, an on-chain analyst firm recently found. Banking used to be a boring subject for the Baby Boomer generation, but in the Internet of programmable money, finance is fun.
If asked to guess what they thought was the top most popular coin for new crypto adopters over the past week, most people would probably guess Bitcoin right. But that doesn’t seem to be the case. Nor is the number two cryptocurrency by market cap, the peer-to-peer network computer, Ethereum (ETH).
Shiba Inu is currently the most popular cryptocurrency starter coin
On-chain data uncovered by Nansen reveals that the most popular non-stable coin digital asset for newly funded crypto wallets over the past seven days has been Shiba Inu.
In that time, Nansen has accumulated more than $56 million of SHIB tokens in approximately 12,000 new wallets. The ERC-20 token was the most common cryptocurrency other than stablecoins to appear in these balances, according to Nansen.
Shiba Inu has undergone a slight correction, in line with the rest of the market.
The pullback coincided with share prices falling after their January rally. Analysts and commentators have widely singled out disappointing economic data and more aggressive interest rate talks by the Fed as the reason for the rout.
SHIB Token Enthusiasts Are Eagerly Awaiting “Shibarium”
Wrapped Ether on Uniswap and ShibaSwap is the most dominant trading pair partner for SHIB in terms of volume. But Binance holds the most Shiba Inu in SHIB balances.
There have been recent misreports that Binance has removed Shiba Ina.
Only the centralized cryptocurrency exchange, however, de-listed some trading pairs that included SHIB. Dogecoin (DOGE) inspired Ethereum token meme is on Binance to stay.
The ancient Japanese dog breed, the Shiba Inu, has become the face of Dogecoin, the Bitcoin-based PoW cryptocurrency that started as a joke. It became one of the most capitalized cryptocurrencies in history and ushered in the memecoin segment. Then DOGE even inspired Ethereum competitor.
Today SHIB enthusiasts are eagerly awaiting the recently announced Shibarium, a Tier 2 Ethereum ecosystem for launching decentralized apps using SHIB as a native token
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