A few months ago, the meme-coin Shiba Inu (SHIB) was pretty much in the spotlight. The cryptocurrency rose astronomically within a short period of time, and crypto investors' interest in the project was gigantic at times. Shiba Inu even made it into the top 10 largest cryptocurrencies. However, the price of Shiba Inu has since plummeted, and the hype and interest surrounding the project seems to have completely evaporated as well.Google TrendsIn fact, last year Shiba Inu was so popular that it topped CoinMarketCap in terms of searches. Also on the Google, there was a huge search for, for example, "Shiba Inu" or "Buy Shiba Inu" all over the world.However, this search volume on Google has totally dried up in the last 90 days. Google Trends shows that a peak in terms of interest was reached on October 29 last year. Since then, this search volume has plummeted by a whopping 92%!https://ift.tt/rlESyxF5s Inu PriceThe price of meme-coin did not manage to perform much better in recent months. Since the all-time high set at the end of October 2021, the SHIB price has dropped more than 75%. In fact, at the beginning of January, Shiba Inu's market capitalization plummeted by more than $3.5 billion in just one week.Although the team at Shiba Inu is still working hard behind the scenes to get the project back on track, this seems to have become quite a task. Here and there SHIB still gets listed on a new crypto exchange, but the extreme price appreciation we saw in the past seems to be a thing of the past so far.Of course, Shiba Inu is not the only cryptocurrency that is performing poorly at the moment. Due to the high uncertainty in both the crypto and equity markets, most cryptocurrencies are deep in the red. Nevertheless, the demise of SHIB can be called an outlier.Edit: Shib holders and fans, stop attacking me for pointing out your coin has had its day and people have moved to the next Doge/Shib, jeez, chillax and accept the bad investment choices you made
Submitted January 31, 2022 at 03:36AM
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