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Google trends show that retailers are putting a lot of money into the Shiba Inu meme token SHIB, while Bitcoin has not yet seen the return of retail investors. In today’s altcoin news, we take a closer look at analytics.
Shiba Inu is at the center of attention, according to Google Trends, and retail investors almost always play a big role in the crypto space, but it seems that at least they haven’t reached the BTC scene yet. It looks like retailers have a new favorite, Shiba Inu, too. BTC and retail investors shook hands in 2017 when this cryptocurrency posted an ATH of $ 20,000, with smaller investors behind the rally. Something similar happened four years after BTC hit its all-time high in April, and the users who searched Google as a valid indicator of retail behavior rose again.
However, the situation is very different and the number of searches on the world’s largest search engine that contains Bitcoin or buys Bitcoin remains low. The asset continued to hit new highs of $ 67,000 shortly thereafter, and searches barely increased despite the record. Similarly, on another “Buy Bitcoin” query, the situation remains low, the number of such Google searches increased during previous highs earlier this year, but barely increased before and after the recent $ 67,000 level. Google trending data shows that smaller investors are present in the crypto scene but aren’t looking for BTC, ETH and Ripple because they forgot about previous sensations in 2021 like SafeMoon and Dogecoin. They are currently looking for the DOGE killer Shiba Inu.
As the graph shows, the expected inquiries from Shiba Inu will surpass the previous ATH earlier this year. They’ll overtake it in the same dominant way that price sets a new record that almost doubles. This coincides with Shiba Inu’s recent boom and its launch as a meme coin last year, which has seen impressive growth in terms of retail adoption such as the huge SHIBAArmy represented by thousands of stores. Since the beginning of the year, cryptocurrency is said to be performing its best with an incredible ROI of over 100,000,000%, so the chance of a new bull run reappears and changes the minds of retail investors.
The crypto community has seen similar trends emerge and in the past many of them have resulted in great pain for those who were late for the party, but that doesn’t mean joy. Similar messages can also come to Shiba Inu. However, futures investors can focus more on doing the right research to find the underlying reason they want to buy a new asset rather than chasing after what’s in vogue.
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