Majority of the Americans want to sell Shiba Inu token

Shiba Inu token is currently standing under the highest-selling ranked crypto asset among Americans. 

Shiba Inu token is a popular meme coin, which came into popularity because of the shoutout of Tesla CEO Elon Musk. However, Elon doesn’t hold or support the Shiba token but he popularly supports Dogecoin. According to Elon, Doge will be the top leading crypto asset in terms of payment options if crypto will stay. 

Due to the significant correction in the crypto market, the majority of the crypto investors are willing to sell their altcoins as a usual panic sell pressure. 

In the current situation, crypto Investors are showing less trust and support in those crypto assets, which are based on trends or meme concepts. 

Leading crypto news media Finbold did analysis from a Google Trends analysis conducted by Los Muertos.

According to the findings of the research, crypto Investors from 19 US states are considering offloading their crypto accounts through Shiba in token sales. 

The study also revealed that crypto investors from 17 states are considering selling Bitcoin, as Bitcoin tried to touch $20k on 15 June. 

It is worth noticing that table, showing the highest-selling rank, is holding Cardano at the top 5 positions, which is further another hint about the popularity of the Cardano blockchain. 

Study stated:

“various cryptocurrencies are potentially being sold across America, with Shiba Inu being the most popular to sell on the internet. It will be interesting to see if these findings will be reflected in future prices.”

If we notice closely about Dogecoin then we will find that Doge is standing at a better position over Bitcoin & Shiba Inu tokens. Here Dogecoin is currently standing at a 92% loss over its all-time high, which touched in mid of 2021. 

Probably dominant support of Elon Musk toward Dogecoin is acting as a catalyst to create trust among the retail investors but still, here the crypto industry is waiting to find out perfect development works.

Read also: Most of the open interest is at $1,000 for ETH, says former BitMEX Exec