Shiba Inu was the most popular cryptocurrency in new wallets over the past week, an on-chain analytics firm recently revealed. Banking was a boring subject for the Baby Boomer generation, but in the Internet of Programmable Money, finance is fun.
If asked to guess what they thought was the most popular first coin for new crypto users in the past week, many people would probably guess Bitcoin. However, it seems that is not the case. Neither is the number two crypto by market capitalization, the peer-to-peer network computer, Ethereum (ETH).
Shiba Inu is currently the most popular cryptocurrency seed coin
On-chain data revealed by Nansen reveals that the most popular digital asset of volatile coins for newly funded crypto wallets in the past seven days has been Shiba Inu.
During this period, Nansen achieved more than $56 million in SHIB tokens in some 12,000 new wallets. The ERC-20 token was the most common non-stablecoin cryptocurrency to appear on those balance sheets, according to Nansen.
The Shiba Inu went through a slight correction, in line with the rest of the market.
The pullback coincided with a fall in share prices after a rally in January. Analysts and commentators widely pointed to disappointing economic data and even tougher interest rate talk from the Fed as the reason for the pullback.
SHIB Token Enthusiasts Eagerly Await ‘Shibarium’
Wrapped Ether on Uniswap and ShibaSwap are the most dominant trading pair partners for SHIB by volume. But Binance holds the most Shiba Inus in SHIB balances.
Recently, there have been false reports that Binance has delisted Shiba Inu.
However, only the centralized crypto exchange removed some trading pairs that included SHIB. Ethereum meme token inspired by Dogecoin (DOGE) remains on Binance.
An ancient Japanese dog breed, the Shiba Inu, has become the face of Dogecoin, a Bitcoin-forked PoW crypto that started as a joke. It became one of the most capitalized cryptocurrencies in history and inaugurated the memecoin segment. Then DOGE even went on to inspire an Ethereum competitor.
Today, SHIB enthusiasts eagerly await the recently announced Shibarium, an Ethereum layer 2 ecosystem for running decentralized applications that use SHIB as the native token
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