According to a recent survey published by Saxo Markets, the meme coin project Shiba Inu (SHIB) is more popular among Australians than Ripple (XRP) and Cardano (ADA). 5% of Australians say they know about SHIB, while 3% and 2% respectively say they’ve heard of the other two altcoins. For details cryptocoin.com read.
Meme coin project SHIB is more popular among millennials
Unsurprisingly, 38% of respondents know the leading crypto Bitcoin (BTC), with BTC at the top of the list. Leading altcoin Ethereum (ETH), Binance Coin (BNB) and another meme coin project Dogecoin (DOGE) are also in the top five ahead of Shiba Inu. Only 1% of Australians know what Avalanche (AVAX) really is.
In particular, the Shiba Inu is much more well-known among millennials than the baby boomer generation (7% and 1%, respectively). The dog-themed token gained attention earlier this year for its phenomenal price performance that blew all other cryptocurrencies out of the water. The meme coin craze isn’t limited to Australia, of course. In May, Harris Poll’s survey showed that Dogecoin is more popular with American investors than Ethereum.
If it’s legal money, 42% of the people say “I will use it”
Only 11% of Australians say they “completely” understand what cryptocurrency is. However, an impressive 42% of respondents claim that they would use cryptocurrency if it became legal currency in the country. The majority either use crypto for savings or shop with it (34% and 23%, respectively).
25% of Australians agree that crypto should be recognized as the official currency in the country. Meanwhile, Australian Finance Minister Josh Frydenberg announced his plan to overhaul Australia’s current payment system so as not to lag behind Silicon Valley. Additionally, the Australian government will consider the creation of a central bank digital currency as it works on a regulatory framework for cryptocurrencies.
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