Last updated on July 14th, 2022 at 09:57 pm
New research has revealed that Shiba Inu, Bitcoin, Dogecoin, Ethereum, and Cardano are the top five cryptocurrencies Americans want to sell the most as volatility in the crypto market goes on unabated.Cryptocurrencies Americans Want to Sell the Most by Ope Quadri
Crypto sell-off was triggered by the Terra Luna crash in May, since then, Bitcoin and altcoins have been experiencing the most troubling moment in the crypto market, no thanks to the latest plan by the US Federal Reserves to announce the biggest interest rates in 28 years.
Research conducted by Los Muertos, an NFT-based project, found that there is an upsurge in the number of American states that are willing to sell their crypto assets.
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The researchers who explored and analyzed data on Google Trends revealed that 19 American states are searching for means of selling their Shiba Inu.
The 19 states where there is an upsurge of search on “how to sell Shiba Inu” are:
- New Hampshire
- New York
- South Carolina
Shiba Inu (SHIB) is the 15th most valuable coin in terms of market capitalization valued at $5,321,850,856 at the time of writing.
After its All-Time High of $0.00008616 on October 28, 2021, the meme coin has found it difficult to cross that bar at its worth $0.000009693 at the time of writing, data on coinmarketcap shows.
Backed and promoted by the largest shareholders in Twitter and the wealthiest man on earth, Elon Musk, it has been predicted that the meme coin will rebound and rise to $0.00015 in 2023.
If that prediction comes to pass and holders in the US are able to remain patient, it might be another way of producing Shiba Inu millionaires.
Bitcoin was the second most searched cryptocurrency to sell in America with 17 states searching to sell the most valuable coin more than any other cryptocurrency. The states are:
- Rhode Island
- West Virginia
- South Dakota
- Virginia, and
1BTC was worth $19,941.37/USD, data shows that it dropped by 4.73% in the last 24 hours at the time of writing. BTC is predicted to be worth $341,000 by 2025, according to Crypto Research Report (CRR)
The tenth most capitalized coin Dogecoin (DOGE) was mostly searched in eight states, and most of them searched to sell Dogecoin, making the coin the third-highest number in the research.
The states are:
- District of Columbia
- North Carolina
- North Dakota
DOGE has not been able to break its All-Time High $0.7376 that was recorded on May 8, 2021. Its current market price at $0.06185 shows that it dipped by $0.68.
Seven months ago, specifically, November 16, 2021, Ethereum was worth $4,891.70/USD. Presently (Wednesday, June 22, 2022, at exactly 23:36), that price can buy more than four ETH using the market price $1,054.88.
This latest crash in ETH may have prompted a search by four American states’ most searched cryptocurrency to sell. The states are:
ETH is the most valuable crypto with $127,892,091,322 market cap at the time of writing. It dipped by 6.34% in the last 24 hours.
Only three states – New Jersey, Utah, and New Mexico searched Cardano most on how to offset their ADA asset.
I was talking to a friend a few days ago about the possibility of cryptocurrency bouncing back, he said he couldn’t comment because it’s a moment ‘of sober reflection in the crypto community for him’.
He was actually contemplating offsetting his cryptocurrency assets, though I persuaded him to be patient, the ball is in his court to make the best investment decision that suits him.
Los Muertos study potentially reveals where most of the crypto sell-offs are taking place from across the 51 states in the US, with Shiba Inu being the most popular to sell on the internet.. Los Muertos is Non-Fungible Token project.
While some investors have made up their minds to sell -off their crypto assets, a few others say it’s time to buy the dip for them to multiply their investment when the crypto market makes a rebound.