Meme-inspired cryptocurrencies are catching up with the leading digital assets. Shiba Inu outperformed the world’s second cryptocurrency by the number of Google searches. While taking such leaps, Shiba Inu may soon challenge market capitalization ratings.
Data from Google Trends shows that users browsing information about Shiba Inu are much more numerous than those who are interested in Ethereum. Notably, the number of Shiba searches almost approached Bitcoin’s. Such growth of searches was triggered by Shiba Inu’s recent price hike. The “joke” cryptocurrency gained 70% in a week, 840% during the previous month, and 4,495% in six months. The growth pace is the largest among 13,336 cryptocurrencies in the market. Notably, Shiba Inu began to appear in the media’s spotlight more often. Moreover, most investors hold their coins for more than a month. This indicates a jump in the number of those who consider the asset to be a long-term investment, which may provide stable profit.
Shiba Inu has recently dropped due to the decline in the number of high-volume positions. It was a perfect entry point for making purchases. The number of such positions was steadily rising during the recent period of growth. If the volume of orders climbs again, the asset may show a new jump.
