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These Countries Are Picking Shiba Inu Over Dogecoin And Cardano
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These Countries Are Picking Shiba Inu Over Dogecoin And Cardano

Scott Matherson
Scott Matherson
1 year ago
4 mins read
Shiba Inu Dogecoin Cardano

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Shiba Inu has been constantly garnering favor among crypto investors since its first price surge back in 2021. Even with the price drop over the last year, the meme coin still features as an investor favorite, surpassing the likes of Cardano and Dogecoin in countries with a large crypto investor presence.

Shiba Inu Search Surpass Dogecoin And Cardano

Google Trends has shown that interest in Shiba Inu has surged ahead of that of Dogecoin in Canada and the United States, as well as Cardano. The data which shows the movements over the past 12 months shows points in time where the search for Dogecoin had spiked significantly, leading to a remarkable lead by Dogecoin compared to Shiba Inu and Cardano.

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However, as time has passed and periods of brief spikes have been left behind, the trends have indicated that Shiba Inu remains the asset of the three gaining investors’ attention. Since April 2023, SHIB has appeared ahead of both Cardano and Dogecoin with no end in sight for this trend.

In September alone, the interest in Shiba Inu has come out more than double those of Cardano and Dogecoin. Even toward the end of August when the crypto market crashed and interest waned, Shiba Inu went in the opposite direction.

Shiba Inu Google Trends

SHIB trends higher than ADA and DOGE | Source: Google Trends

This spike in interest shown in the chart above coincides with the launch of the Shibarium blockchain. The Layer 2 network built atop the Ethereum blockchain was in the works for a long time and when it eventually launched in August, it triggered renewed interest in the SHIB token which currently serves as its official governance token.

SHIB Falls Behind Dogecoin In Profitability

While Shiba Inu is leading in terms of interest, it has not translated to profitability for the meme coin’s holders. The percentage of SHIB holders currently seeing any kind of profit is at only 9% compared to 41% for DOGE holders, according to data from IntoTheBlock.

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However, SHIB is still doing well compared to Cardano in this regard whose holder base is almost completely submerged in losses. Data shows that ADA holders in profit are sitting at a sad 4%. When put in contrast with SHIB’s numbers which is still disappointing, the meme coin is seeing twice as many holders in profit.

In terms of price performance, all three have performed similarly when comparing their current prices to their all-time prices. SHIB is down 91.49% from its ATH, while Dogecoin and Cardano are down 91.59% and 91.89%, respectively, data from Messari shows.

Shiba Inu SHIB price chart from Tradingview.com (Dogecoin and Cardano)

SHIB price struggles at $0.000007 despite interest | Source: SHIBUSD on Tradingview.com
Featured image from Times Tabloid, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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