In Australia, which has the third-highest rate of cryptocurrency ownership as of October, a survey by Saxo Markets shows that the Shiba Inu is growing in popularity.
According to the survey, SHIB, one of the most popular meme tokens of recent times, is more popular among Australians than XRP and Cardano (ADA).
3% of Australians said they had heard of Cardano, 2% said they had heard of XRP, while 5% said they knew about the Shiba Inu.
The leading cryptocurrency ranked first with a 38% recognition rate, followed by Ethereum (ETH), Binance Coin (BNB), Dogecoin (DOGE) and Shiba Inu (SHIB).
The popularity of the meme token isn’t just ahead in Australia. A survey in May showed that Dogecoin is more popular with American investors than Ethereum.
In addition to the success of SHIB, 42% of the respondents stated that they would use cryptocurrencies if they were accepted as legal currency in the country, while 34% stated that they would use cryptocurrencies for investment purposes and 23% for shopping.
Because 25% of Australians surveyed think that cryptocurrencies should be officially recognized in the country.
In the country where the adoption of cryptocurrencies is high, the Minister of Finance recently stated that they are working on the necessary regulatory framework in order not to fall behind in the development of cryptocurrencies.
*Not investment advice.