Shiba Inu is the most popular starter crypto: Nansen

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Shiba Inu was the most popular crypto in new wallets over the past week, an on-chain analytics firm recently discovered. Banking used to be a boring subject for the baby boomer generation, but in the programmable internet of money, finance is fun.

If asked to guess what they thought was the most popular first coin for new crypto users in the last week, a lot of people would probably guess Bitcoin. But that doesn’t seem to be the case. Nor is it the number two crypto by market capitalization, the peer-to-peer network computer, Ethereum (ETH).

Shiba Inu is currently the most popular starter coin in cryptocurrency

On-chain data discovered by Nansen reveals that the most popular non-stable digital asset for newly funded crypto wallets in the past seven days was Shiba Inu.

During this period, Nansen registered over $56 million in SHIB tokens in some 12,000 new wallets. The ERC-20 token was the most common crypto other than stablecoins to appear in these balances, according to Nansen.

Shiba Inu suffered a slight correction, in line with the rest of the market.

The pullback coincided with falling stock prices after rising in January. Analysts and commentators have widely pointed to disappointed economic data and more hawkish Fed interest rate talk as the reason for the rout.

SHIB Token Enthusiasts Are Eagerly Waiting For “Shibarium”

Wrapped Ether on Uniswap and ShibaSwap is the most dominant trading pair partner for SHIB by volume. But Binance has the most Shiba Inu in SHIB balances.

There have been recent misrepresentations that Binance has delisted Shiba Ina.

However, the centralized crypto exchange only removed certain trading pairs that included SHIB. The Ethereum token inspired by Dogecoin (DOGE) is on Binance to stay.

Japan’s ancient dog breed, Shiba Inu, has become the face of Dogecoin, the Bitcoin-forked PoW crypto that started out as a joke. It became one of the most capitalized cryptocurrencies in history and ushered in the memecoin segment. Then DOGE even inspired the competitor Ethereum.

Today, SHIB enthusiasts are eagerly awaiting the recently announced Shibarium, a layer 2 Ethereum ecosystem for launching decentralized applications using SHIB as a native token.

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