Shiba Inu Ranks Sixth Among American Crypto Investments, Outperforming Tether, Cardano, Solana And More

Shiba Inu (SHIB) the dog-themed altcoin of the Shiba Ecosystem, outranked major crypto assets like Tether, Cardano, Solana and many others and was hailed as the sixth most popular cryptocurrency among American investors, based on a recent survey.

A survey conducted in the U.S. by ConsenSys and YouGov, titled "A Global Survey on Crypto and Web3," found that Shiba Inu, the altcoin created by Ryoshi and introduced in August 2020, is the sixth most popular crypto asset among American investors.

While Bitcoin (58%) and Ethereum (37%), two of the world's largest crypto assets by market capitalization sit at the first and second spots in this particular category, Dogecoin (26%), Elon Musk's favorite crypto and the world's first-ever meme coin ranked as the third most popular, followed by Binance (22%) and USDC (18%) on the fourth and fifth place.

Shiba Inu ranks sixth with 17% followed by Tether, UST and Solana in the seventh spot with 16% and Cardano in the eighth spot with 13% of the respondents.

The ranking is also synonymous with the top crypto assets held by American investors.

The survey interviewed 1018 U.S. residents between the ages of 18 and 65 and also found that the majority of Americans do not consider investing in crypto while approximately 43% of the respondents are interested in investing in the nascent industry, with 18% of them haven't made the decision to invest yet.

In July, a study conducted by crypto bookmakers Cryptobetting.com and shared with International Business Times revealed that Shiba Inu beat Ethereum and Dogecoin in terms of popularity among U.S. investors.

The study utilized search volume data to analyze and compare different cryptocurrencies from the top 100 cryptos (by market cap) and determine the most searched ones in America.

While Bitcoin recorded a 1,910,000 monthly search volume, Shiba Inu saw a monthly search volume of 484,000, which was mainly due to its unique branding and enthusiastic community — the Shib Army, otherwise known as the fierce and loyal members of the Shib Ecosystem.

Shiba Ecosystem and Shibarium Tech marketing specialist who uses the X handle @LucieSHIB shared with IBT that she is proud of what SHIB has accomplished.

"I'm immensely proud to see Shiba Inu steadily but surely establishing itself at the top," the marketing specialist said.

As of 1:39 a.m. ET on Wednesday, SHIB was trading down at $0.000007585, with a 24-hour trading volume down by 2.78% to $98.89 million, representing a 0.77% decrease in the last 24 hours and a 6.6% loss over the past seven days.

Based on the latest data from CoinMarketCap, SHIB's total circulating supply stands at 589.35 trillion SHIB, with its value down by 0.92% at a $4.48 billion market cap.