The Shiba Inu (SHIB) is currently experiencing a dip in interest after becoming one of the top-paying cryptocurrencies last year. Google search data shows that interest in the meme token waned after prices fell.
SHIB searches on Google have been on the decline for the past year
Shiba Inu (SHIB) volume is struggling with a price correction after the recent recovery. The decline in interest in the meme token brought with it lows. Google Shiba Inu (SHIB) searches have reached their lowest levels in a year, despite the market trading in negative territory for a long time. During the month of July, worldwide Google search queries containing the keyword “Shiba Inu” hit the lowest level in more than a year, according to the data.
Shiba Inu searches were only 4 during the week of July 10-16, with the highest popularity score being 100. Thus, it reached the lowest levels since May 2021. In terms of internet searches, SHIB’s most recent relevance was 5 and “interest over time” is declining.
It is interesting to note that some countries are still showing interest in the token despite the waning global interest. Dutch investors are leading the way, with a high popularity score of 100 points. USA comes next with 98 points. Australia, Canada and Nigeria all scored 81, 84 and 89 respectively.
Meanwhile, whales collect Shiba Inu
The world’s largest Ethereum whales remain bullish on SHIB. But the problem is Shiba’s constant depreciation.
SHIB is leading the race to become one of the most used smart contracts among the top 1000 ETH whales. WhaleStats, which monitors the actions of major Ethereum investors, highlighted this development in a July 24 tweet.
https://twitter.com/WhaleStats/status/1551055921098510336
According to the portal, SHIB has a share of 19.04%, or $548.6 million, in the total portfolio of all ETH whales. That equates to 49.3 trillion SHIB. Details are in the scoreboard below.
The whales have demonstrated their faith in Shiba despite a few setbacks in the past. “BlueWhale0159”, for example, has purchased a large amount of Shiba Inu in the past few weeks. According to Etherscan, the whale in question has withdrawn 50,000,000,000 SHIB to its wallet. That equates to roughly $1,750,500. Such high demand comes in tandem with SHIB incineration activities from its general circulation. Mainly in hopes of raising the price of the token. A total of 110,289,311 SHIBs were burned in the last 24-hour period. Also, on July 23, nearly 200 million SHIB tokens were removed from circulation in the past four days after one billion SHIB were burned.
Meanwhile, we saw the altcoin project Silverway (SLV), which focuses on OTC transactions, surpass Shiba. As Kriptokoin.com, you can take a look at this article.
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