Google trends show that retail traders are heavily pouring money into the Shiba Inu meme token SHIB while bitcoin is yet to see the return of the retail investors. In today’s altcoin news, we are taking a closer look at the analysis.
Shiba Inu has taken the center stage according to Google Trends and the retail investors almost always play a huge role in the crypto space but it seems that they are yet to arrive on the BTC scene at least that is what Google trends data shows for the biggest cryptocurrency. It also seems that the retail traders have a new favorite, Shiba Inu. BTC and retail investors are moving hand in hand and back in 2017 when the crypto charted its ATH of $20,000, smaller investors were behind the rally. Something similar happened four years later when BTC hit its ATH in April and Google searchers as a valid indicator of retail behavior spiked once more.
However, the situation seems quite different and the number of queries on the world’s biggest search engine contained either Bitcoin or buy bitcoin which was still low. The asset went on to register a new high of $67,000 right after and the searches barely increased despite the record. Similarly, the situation with another query “buy bitcoin” stays low, the number of such Google searches picked up earlier this year during the previous peaks but barely increased before and after the recent one at $67,000. Google trends data shows that the smaller investors are present in the crypto landscape but are not looking for BTC, ETH, and Ripple as they have forgotten about the previous 2021 sensations like SafeMoon and Dogecoin. They are now searching for the DOGE killer- Shiba Inu.
As the charts show, Shiba Inu’s projected queries will crush the previous ATH that came earlier this year. They will surpass it in the same dominant fashion as the price charted a new record that almost doubled up. This coincided with the recent boom of Shiba Inu and launched as a meme coin last year that saw impressive growth in terms of adoption from retail-like the massive SHIBAArmy that is represented by hundreds of thousands of fans. The crypto is arguably the best performer since the start of the year with a mind-blowing ROI of more than 100,000,000% so the chances of a new surge to happen again and change the minds of the retail investors are pretty slim.
The crypto community saw similar trends come and ago with many of them resulting in huge pain for those that were late to teh party but it doesn’t mean that the same faith could reach Shiba Inu as well. However future investors could focus more on doing proper research to look for fundamental reasons why they want to purchase a new asset instead of going after what is hot.
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