Shiba Inu (SHIB), a prominent decentralized project, is attracting significant attention from crypto enthusiasts and investors in various countries, particularly in Africa. Recent data from CoinGecko, a leading crypto-tracking platform, highlights the growing interest in SHIB among African nations, with South Africa and Ivory Coast standing out as key markets.
Shiba Inu has a growing interest in South Africa and Ivory Coast
According to the CoinGecko research, which analyzed web page views from January 1 to July 4, 2023, Shiba Inu emerged as the second most popular cryptocurrency in South Africa and the third most popular in Ivory Coast. These findings showcase the growing influence of SHIB within these nations’ crypto landscapes.
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1/ Which crypto are African countries watching in 2023?
Our study shows that meme coins, DeFi tokens and blockchain networks are the most popular narratives in Africa so far this year.
Let's dive into the findings in this thread 🧵
Read the full study: https://t.co/ZK343fe6Ec pic.twitter.com/j3brsC5y9X
— CoinGecko (@coingecko) July 10, 2023
The survey also revealed that other African countries displayed notable interest in cryptocurrencies such as Bitcoin (BTC), XRP, Baby DogeCoin (BABYDOGE), Pepecoin (PEPE), and Terra Classic (LUNC). However, Shiba Inu commanded a greater focus in South Africa and Ivory Coast, cementing its position as one of the top cryptocurrencies in these regions.
Beyond South Africa, Shiba Inu’s popularity extends further to India.
Beyond Africa, Shiba Inu’s popularity extends to India, where it has emerged as one of the top three traded assets on the renowned crypto exchange, WazirX, according to a report by Cryptolifedigital. This further underscores SHIB’s global appeal and its ability to capture the interest of crypto enthusiasts across different continents.
The report by CoinGecko also sheds light on the rising adoption of cryptocurrencies in Africa. While the United States has witnessed regulatory crackdowns on several projects, African nations have displayed a growing appetite for digital assets. Nigeria emerged as the country with the highest crypto interest, followed by South Africa, Morocco, Ghana, Egypt, and Ivory Coast.
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These top-ranked countries collectively contribute a significant percentage of Africa’s overall crypto interest, with Nigeria leading the way at 66.8%. South Africa, Morocco, Ghana, Egypt, and Ivory Coast account for a combined interest of approximately 23.8% in cryptocurrencies across the continent.
The increased interest in Shiba Inu and other cryptocurrencies in Africa and India reflects the growing awareness and acceptance of digital assets as a viable investment option. As decentralized finance continues to evolve, the global crypto community eagerly monitors the developments and trends within these markets.
It is important to note that while Shiba Inu has gained traction and popularity, investing in cryptocurrencies carries risks. Investors should exercise caution, conduct thorough research, and seek professional advice before making any investment decisions.
As the crypto landscape evolves, it will be fascinating to observe how Shiba Inu and other digital assets continue to shape the industry and capture the imagination of investors worldwide.
Disclaimer: The information provided in this news article is for informational purposes only. It should not be considered as financial or investment advice.
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