Shiba Inu Takes Over The Internet: Google Searches Climb As Global Interest Surges
March 25 2024 - 4:10AM
NEWSBTC
Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” is back in
the spotlight with a surge in both search interest and token price.
Google Trends data reveals a global increase in searches for “Shiba
Inu” and related queries, indicating renewed investor optimism for
the meme coin. Related Reading: Fantom (FTM) Bull Run: Can FTM Hit
$2 After 20% Price Spike? Shiba Inu Surge Sparks Enthusiasm This
increase comes after a quiet period for the memecoin. However, the
past month has been nothing short of phenomenal. Search popularity
reached a seven-day peak of 100 on March 16th, though it has
settled at a still-healthy 48 – significantly higher than January’s
levels. Phrases like “Why is Shiba Inu going up?” and “Shiba Inu
All-Time High” have also seen a significant uptick, reflecting
investor curiosity and potential buying interest. While the
interest is global, specific regions are leading the charge.
Pakistan, the Netherlands, Slovenia, Canada, and Nigeria have
emerged as the top search originators for SHIB in the past week.
This geographically diverse interest suggests a broad-based appeal
for the meme coin. Source: Google Trends This renewed interest
coincides with a remarkable price rally. SHIB’s value has
skyrocketed over 180% in the past month, reaching a two-year high
of $0.000045. This bullish run fueled speculation of a retest of
its all-time high above $0.000088. However, the market has since
witnessed a correction, bringing SHIB’s price down slightly.
Despite the correction, the enthusiasm within the Shiba Inu
community remains high. The long-term goal of reaching $0.01 per
SHIB token continues to be a hot topic, although analysts caution
it might take several years to materialize. Bitcoin is now trading
at $66.780. Chart: TradingView Shibarium And Market Recovery To
achieve this ambitious target, the developers are focusing on
Shibarium, the project’s Layer-2 scaling solution. Shibarium aims
to become a thriving smart contract hub, potentially attracting
more users and driving up demand for SHIB. Experts believe several
factors are contributing to the current Shiba Inu frenzy. The
broader cryptocurrency market has shown signs of recovery after a
recent slump, potentially boosting investor confidence in meme
coins like SHIB. Additionally, ongoing developments within the
Shiba Inu ecosystem, such as Shibarium and the burning initiatives
to reduce the overall token supply, might be fueling investor
optimism. Related Reading: Eyes On Toncoin: Speculation Rises After
40% Weekly Surge – What Comes Next? Whether SHIB can maintain its
current momentum and reach its long-term price goals remains to be
seen. However, the recent surge in search interest and price rally
is a clear indication that the “Dogecoin Killer” is back in the
game, attempting to capture the hearts (and wallets) of memecoin
enthusiasts worldwide. Featured image from Pexels, chart from
TradingView
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