25% Indians Have Invested in SHIB

On Sep 9, 2023

The search interest associated with Shiba Inu in India has created several spikes over the past 90 days. In fact, data from Google Analytics pointed out that the query volume related to “Shiba Inu crypto” has been hovering above average of late. This is a sign that people from the Indian community are closely monitoring this asset.

Source: Google Trends

Also Read: Shiba Inu: 9 Developments in Shibarium That Could Push SHIB to $0.01

Financial Independence ‘Very Important’ to Indians

Crypto assets have been attracting investors from around the world, while most regulators have been taking a cautious approach. Nevertheless, industry proponents have been calling for the integration of traditional and decentralized finance systems.

A recent survey by ConsenSys pointed out that two out of three Indians think that the financial system could be improved. Around three-fourths of the population believed that the country had the necessary technology to completely transform the system.

The survey results also pointed out that, for 73% of the population, financial independence is ”very important.” Crypto assets provide faster wealth generation when compared to other investment options. At the same time, users can also lose funds at the same pace. So, are Indians playing it safe and staying away from crypto assets like Shiba Inu, or are they actively trading and investing in them?

Also Read: Shiba Inu: ‘High Demand’ Provoked SHIB’s 46,000,000% Rise

Shiba Inu Makes A Cut Into The Top 5

ConsenSys conducted 1013 interviews with people between 18 and 65 years old residing in India and found out that nearly 1/3 of them had bought crypto assets in the past but sold them eventually. 21% of them currently own crypto, while 46% have never stepped into the trading or investing arena.

Nevertheless, more than half of Indians would consider investing in crypto over the next 12 months, while only 12% say that they will definitely not invest in crypto. The survey found out that the main reasons to invest were ‘curiosity,’ followed by the ‘need to trade for long-term returns’ and ‘portfolio diversification.’

Among the users who had bought crypto assets, Bitcoin, Ethereum, Dogecoin, and Binance Coin were the top four. They had a weightage of 69%, 38%, 27%, and 27%, respectively. Shiba Inu occupied the fifth position, with nearly a quarter of them [23%] investing in it. The second-largest meme coin was followed by Solana, Cardano, and Polkadot, among others.

In America, Shiba Inu was the sixth most popular asset among investors, with only 17% of them diverting their funds into this $4.5 billion market-capped asset. When compared, Shiba Inu is evidently a much more popular investment option in India when compared to America.