SHIB Is Fourth Most Popular Bitcoin Alternative In 2023, Beats ADA, SOL

Shiba Inu (SHIB), the dog-themed altcoin created by Ryoshi, has come so far since it was officially introduced in August 2021. The latest data points out that it has surpassed other crypto assets like Cardano (ADA), Solana (SOL) and Tether (USDT) to become the fourth most popular Bitcoin alternative this year.

A study conducted by cryptocurrency experts at Marketplace Fairness, an informational website on investing and growing wealth, revealed that while Ethereum was the most popular alternative to Bitcoin, Shiba Inu was the fourth most popular altcoin on its list.

The study used Google searches to find out which among nearly 23,000 crypto assets were the most preferred alternatives to Bitcoin for investors this year.

Ether (ETH), the world's second-largest crypto asset by market capitalization, sits at the top spot on the list with 3,260,000 searches every month, followed by the world's first-ever meme coin Dogecoin (DOGE) with 1,659,000 searches and Ripple Lab's native cryptocurrency XRP with 1,250,000 searched per month.

Shiba Inu claims the fourth spot with 678,000 searches every month, followed by Cardano (677,000 searches), Solana (542,000 searches) and the blockchain-based token EOS (329,200 monthly searches).

The last three crypto assets to make it to the top ten spots were Litecoin (328,000 monthly searches), Tether (193,000) and Polkadot (183,000).

"While Bitcoin is arguably the poster boy of crypto, there are still such a broad range of cryptocurrencies around, many of which are on the rise. 'Meme coins' like Dogecoin can often be fairly volatile in the market, so it'll be interesting to see how the global popularity of these currencies compares to their value as the crypto world changes," a spokesperson for Marketplace Fairness told International Business Times.

"Shib is more than just a crypto; it's a vibrant community built on faith and vision. It's incredible to witness the unity and determination within the Shib community. Together, we believe in the potential and future of this project," a Shiba Ecosystem and Shibarium Tech marketing specialist, who uses the X handle @LucieSHIB, told IBT.

SHIB, the native cryptocurrency token of the Shiba Ecosystem, was trading up at $0.000006907 as of 7:59 a.m. ET on Tuesday, with a 24-hour trading volume down by 2.69% at $84.33 million – representing a 0.08% increase in the last 24 hours and a 5.5% loss over the past seven days.

SHIB's total circulating supply stands at 589.89 trillion coins, with its value down by 0.09% at a $4.07 billion market cap, according to data from CoinMarketCap.