A strong community and sustained user interest can be considered the most important prerogatives for cryptocurrency projects. The Shiba Inu ecosystem ranks highly in both of these aspects, as confirmed by a recent study by Marketplace Fairness.
As reported by thecryptobasic.com on Wednesday, October 11, 2023, the study aimed to identify the most-searched cryptocurrency on popular search engines like Google, excluding Bitcoin, the most famous cryptocurrency asset. Not surprisingly, Ethereum occupied the second spot as the most popular alternative to Bitcoin, with 3,260,000 monthly searches.
Ethereum's position as the second most recognized cryptocurrency is well reflected in the difference in market capitalization between BTC and ETH. Bitcoin and ETH have dominated the cryptocurrency market capitalization rankings for the past decade, each holding the first and second positions. At the time of writing, BTC and ETH contribute to 67.8% of the global cryptocurrency market capitalization worth $1 trillion.
However, recent research by Marketplace Fairness also shows that market capitalization rankings do not always mirror the popularity of an asset. For instance, XRP holds the third position as the most popular altcoin, with 1,250,000 searches per month. However, Ripple-backed assets fall behind Binance Coin (BNB) and Tether (USDT) in the list of the largest cryptocurrency market capitalizations.
Out of more than 23,000 existing digital assets, Shiba Inu has beaten them all to claim the fourth position as the most searched cryptocurrency.
Shiba Inu and Dogecoin Achieve High Scores
Shiba Inu and Dogecoin are among the biggest winners in the recent crypto bull market. Despite both assets still trading significantly below their all-time highs in 2021, interest in these assets remains relatively high, according to recent research.
Dogecoin records more user interest on popular search engines with 1,659,000 searches, surpassing XRP and trailing only behind Ethereum. Shiba Inu also ranks in the top four among altcoins, with an average of 678,000 monthly searches in 2023.
The number of Shiba Inu searches primarily outpaces Cardano (ADA) and Solana (SOL), both of which have higher market capitalizations than SHIB. Cardano records 677,000 searches, while Solana sees 542,000 searches in the same timeframe. Meanwhile, Litecoin, Tether, and Polkadot complete the top ten rankings.
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