SHIB dwarfs other altcoins in social media growth in 2022

SHIB

TL;DR Breakdown

  • SHIB ranks as a top token in 2021 in terms of social media talks.
  • Rumors on Robinhood listing SHIB played a vital role in surging the discussions.

Shiba Inu (SHIB) appeared severally on social networks search history in 2021. Besides, it cuts as the most dominant crypto on the networking platforms this year.

Ideally, the media news on SHIB rose by approximately 16,000%. The most crucial development in comparison to competitor cryptos. This information came from the analytics program GlobalData.

Rumors about SHIB listing on Robinhood triggered the surge in social media news. Traders advocated for the listing of meme coins on the exchange platform. The push saw close to 500,000 people signing a petition. In turn, the meme coin sustained a bullish pattern that saw price hitting a new all-time high.

The statistics are pegged on several statements on Reddit and Twitter. The period of study covers 2020 to DEC 2021.

Crypto social media talks went up by 400%

Importantly, in 2020, there was a general uptrend in the news about cryptocurrencies. According to a data and analytics firm, there was a more than 400% increase in such talks.

Smitarani Tripathy, an analyst at GlobalData said:

“In 2021, social platforms statements about cryptos went up by close to 400%.” Tech specialists, blockchain gurus, CEOs, and financial professionals have a role in pushing crypto talks. Elon, Tesla’s CEO, has shown to be a most significant contributor. They act as a stimulus for essential cryptos like BTC and DOGE.”

Whereas SHIB leads the altcoins, Bitcoin maintains the most popular crypto in the internet cycles. Most Redditors and Twitter fans discussed BTC more than 881,900 times.

BTC’s interest shot up after the SEC okayed the Bitcoin futures ETF. The move saw several people talk about bitcoin, and eventually, it rose to $66,000—a new all-time high.

Also, Elon Musk ignited a conversation on bitcoins when Tesla stopped transacting in BTC. Tesla stopped taking BTC for payments citing environmental impacts it has during mining.

Other crypto mentions

After bitcoin, ethereum ranked position two with around 305,800 talks. At a point, ethereum had the potential to overcome BTC. This triggered a lot of conversations.

Due to its dynamism and role in secondary development areas in the crypto space, For Example, NFTs, DeFi, and metaverse made it successful. Ethereeum blended too well with these drivers, and thus it converted it to numbers.

Dogecoin assumed position three in 2021. It had close to 150,700 discussions. A rise of almost 8,000% was well recorded in 2020. Dogecoin debate went up after its value rose from a tweet made by Elon Musk. The Tesla boss, through a tweet, stated the initiation of a satellite called DOGE-1. Moreover, Musk went ahead to tag Doge as a potential to the future of the cryptocurrency.

Besides, the announcement by Tesla to allow DOGE for trade was a significant trigger. After the information, there was an enormous growth in talks surrounding Doge.

Other cryptos discussed so much in 2021 include, Binance, Cardano, and Solana.

Dennis Mugambi

Dennis Mugambi

Dennis is a content writer with a deep understanding of the blockchain domain and cryptocurrency field. He infuses cold data with flair to make technology and finances mind-blowing. His reports both fascinate and awaken the readers.

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