It’s interesting to think about where these coins come from and the whole premise behind them. A year ago, dog-themed coins didn’t exist. Now they are some of the biggest projects in crypto space. They proved that utility is not always the engine of growth in space.
However, as more coins with these characteristics flood the crypto market, competition between major projects has become fierce. First, Shiba Inu came under the brand of “Doge Killer”, referring to the DOGE meme coin. Now, Shiba Inu has encountered fierce competitors like BabyDoge and Floki Inu. As these coins continue to gain in popularity, who will hit the 1 million holders mark first?
run to the top
As of this writing, Shiba Inu and BabyDoge have surpassed 950,000 titleholders. The two coins continue to run to one million holders, but SHIB has the lead by around 40,000 holders. Interestingly, Shiba Inu started to gain traction before BabyDoge, but the holders of both projects are close to each other.
One motivator for this is the pursuit of 100X gains. For a currency like Shiba Inu, most believe there isn’t as much growth opportunity compared to a relatively new project like BabyDoge. SHIB has hit several zeros in its price, but BabyDoge still has a long way to go. Getting as high as the Shiba Inu price would mean massive gains for its holders.
BabyDoge currently has an impressive number of 957,453 holders. Nonetheless, Shiba Inu has 992,986 holders. This puts the last path ahead in the race towards 1 million holders and more than likely means that SHIB will be the first of the two currencies to cross that number.
Shiba Inu dominates social media
Shiba Inu’s growth extends beyond its support base. Currency has consistently dominated the discussion on social media platforms like Twitter. Even Google searches have not been left out, as the currency is one of the most searched cryptocurrencies on Google. He is taking on top currencies like Bitcoin and Ethereum on these platforms.
Shiba Inu, has more Twitter followers than the top 2 currencies, Ethereum, after the meme currency hit 1.9 million, advancing ahead of ETH, which has 1.8 million followers on the platform. This number also puts him ahead of beloved projects like Cardano, SafeMoon and Solana on the platform. SHIB remains one of the most talked about crypto projects on social media platforms.
The cryptocurrency is also most watched at CoinMarketCap, appearing on over 1.7 million lists, trailing Ethereum and Bitcoin on the list.