A survey by Cointelegraph on Twitter shows that crypto investors are relying on another meme coin rather than DOGE in the bear market.
Crypto investors trust this meme coin over DOGE
64% of respondents to Cointelegraph’s December 20 “Which meme investment do you still prefer” survey preferred the Shiba Inu (SHIB). Thus, SHIB proves to be in the hearts of most meme coin investors despite the market-wide turmoil. Interestingly, Dogecoin (DOGE) is second with just 27% of the vote. This shows that there is a huge difference between it and its rival SHIB.
Other meme stocks included in the vote were AMC Entertainment (AMC) and GameStop (GME). Dogecoin (DOGE) and Shiba Inu (SHIB) were featured as crypto representatives on the list. More than 2,600 respondents, or 64% of 4,091 respondents, said they still hold SHIB tokens. Both breast stocks, AMC and GME, were third and fourth with 5% and 4%, respectively.
Which meme investment are you still diamond handing?
— Cointelegraph (@Cointelegraph) December 20, 2022
Meanwhile, the comments were full of responses for Shiba, showing its support and popularity. Some have mentioned Bone ShibaSwap (BONE), Shiba Inu’s management token. As a result, the SHIB community continues to dominate social media by a wide margin.
CoinMarketCap shows SHIB as the most popular meme coin
On December 24, 2021, the crypto data tracking platform released its list of the most viewed coins/tokens of the year. SHIB ranks second with 145 million views. The DOGE rival has grown in popularity since then.
Meanwhile, the world’s largest exchange Binance ranked SHIB among the three most-watched coins this year, along with BTC and ETH, on Dec. Also, according to data, at least 1.8 million CMC users have SHIB on their watchlist.
Meanwhile, amid this rise in popularity, whales have not only survived. At the same time, they started accumulating more SHIB tokens in a sophisticated discount frenzy. The 7th largest SHIB whale added millionaires to its bag this week without selling any. Also, despite the bear market, investors who bought SHIB before April of last year see at least 13,700+ profits if they continue to hold.
Here’s the SHIB whale trade of the week
As Kriptokoin.com, we have transferred a series of transactions involving trillions of SHIBs in recent weeks. In a December 20 transaction, the 7th largest SHIB whale bought a total of 198.43 billion SHIB with no sales. The whale now holds 18.44 trillion SHIB in its wallet. Meanwhile, SHIB price has lost 7% over the week. We have included the latest developments from the Shiba Inu ecosystem in this article.
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