According to a recent Hitwise survey, MySpace still commands more than 75 percent of traffic to social networking sites in the U.S. This despite the near constant media attention Facebook receives, particularly in the wake of its value being assessed at $15 billion.

WebProNews reports, however, that the news doesn’t necessarily spell doom for the still-popular networking site, which placed a distant second in the survey with just over 12 percent of U.S. visitors (Bebo was and even more distant third, with only a little over one percent).

According to the WebProNews analysis, “It’s not as gloomy for Facebook as it is overhyped. Year-over-year, Facebook grew by 50 percent and (presumably) swiped some market share from MySpace, which experienced an eight percent drop in market share between December 2006 and December 2007. And Facebook visitors are also loyal, with a 93 percent visitor return rate.”