Shiba Inu Defeats Bitcoin, Ether to Rank as Most Popular Crypto of 2021 on CoinMarketCap Index

Meme-based dog coin Shiba Inu was named the most popular cryptocurrency on international market tracker CoinMarketCap, surpassing Bitcoin, Ether, and Dogecoin, to become the most viewed coin on the plaform in 2021. With a market capitalisation of over $20 billion (roughly Rs. 1,50,120 crore), Shiba Inu is the thirteenth largest cryptocurrency in terms of valuation. In October this year, the SHIB token spiked by more than 216 percent within a week, attaining a new all-time high of $0.000088 (roughly Rs. 0.0066). Presently, each SHIB token is trading for $0.00003823 (roughly Rs. 0.0029).

In a “2021 Wrap Up” post, CoinMarketCap tweeted that Bitcoin, Dogecoin, Cardano, and Ethereum followed Shiba Inu on the popularity index at the second, third, fourth, and fifth positions respectively.

The meme coin, which was originally created as a joke to rival Dogecoin, emerged as the 11th-biggest cryptocurrency coin by market value on October 25, WatcherGuru reported.

In recent times, SHIB adoption has also witnessed a momentum.

On December 3, Canadian online medical service provider Ask The Doctor announced that it had added $1.5 million (roughly Rs. 11.26 crore) worth of Shiba Inu tokens to its balance sheet, preparing to start accepting it as a payment option from its partners.

US-based movie theatre chain AMC is also considering the acceptance of Shiba Inu tokens as a payment option.

In fact, earlier this year, the SHIB token had also emerged as the most-popular cryptocurrency on Twitter, research firm ICO Analytics claimed in a recent report.

Earlier this month, Kraken and Bitpay are other international exchanges to have listed the Shiba Inu coin on their platforms.

As per CoinMarketCap, Shiba Inu is held by 1,090,840 wallet addresses, 14,645 are active addresses. The coin is listed on 447 exchanges around the world.