• Shiba Inu is the most popular non-stablecoin token on the Ethereum network in the last 7 days

  • Shiba Inu (SHIB), a decentralized currency based on the Ethereum (ETH) blockchain, is currently the network’s most popular non-stablecoin token.

    Notably, in the last week, SHIB has led the three charts in terms of top tokens by unique senders, unique receivers, and total uniques, ahead of all other non-stablecoin tokens.

    Indeed, according to Etherscan.io data, it trails the two stablecoins Tether USD (USDT) and USD Coin (USDC) in all categories, with 102,746 unique senders, 66,194 unique receivers, and 132,708 total uniques.

    Shiba Inu are becoming increasingly popular.

    Nonetheless, despite recent criticism of the coin, most notably from Scion Capital’s former hedge fund manager, Michael Burry, who called the token “pointless” and a “bad investment option,” given the established impact of having an abundant supply on an asset’s price appreciation.

    The meme coin has seen consistent retail demand, recently surpassing one million followers on the social media platform Twitter and garnering over 268,000 signatures on its petition titled “Kindly request of Robinhood to list Shiba Inu coin!” When that number reaches 300,000, this petition will quickly rise to the top of the website’s list of most popular petitions.

    Furthermore, according to COIN98 analytics, it is the most searched coin among the top 30 trending searches on CoinGecko from 11 to 18 October 2021.

    Not to mention that the digital asset gained nearly 40,000 new holders in just ten days. In fact, between June 21, when the meme token had 536,300 holders according to Etherscan.io’s when using a web.archive.com tool for historical data, and October 18, the meme token gained over 200,000 new holders.

    SHIB advancements

    It’s worth noting that some members of the cryptocurrency community believe SHIB is useless in real life. Simply put, it exists to allow smaller investors to make quick money.

    However, with the launch of a new NFT marketplace and the formation of a rescue organization, the initiative has the potential to change its image around the world. For example, the Shiba Inu token can now be purchased through Coin Cloud at 4,000 ATMs across the United States and Brazil, making it even more accessible.

    According to CoinMarketCap.com, the token is currently trading at $0.0000282, up 3.44 percent in 24 hours and only 0.28 percent in the last week, with a market capitalization of $11.1 billion.

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