Shiba Inu (SHIB) is trading at a 2-month low as the trend for dog-inspired memecoins seems to be over.
Shiba Inu (SHIB) took the market by storm a couple of months back, and it seemed that everyone was talking about it at one point.
The cryptocurrency reached an all-time high on October 28th, hitting $0.00008870, providing early investors with tremendous returns. However, things aren’t looking pretty ever since.
At the time of this writing, Shiba Inu (SHIB) is trading at 0.00003371 – the lowest it has been since October 24th – almost two months ago.
The price is down over 60% from its all-time high (ATH), and it has been in a serious downtrend ever since peaking in late October.
Chart by TradingView
The hype that we saw back then is nowhere around. This is confirmed by data provided by Google Trends for the period.
Shiba Inu Searches. Source: Google Trends
The chart displays the Google searches for the “Shiba Inu” term over the past 12 months across the world, and it’s quite definitive.
Searches are down to May numbers, indicating that the hype for SHIB is rather dissolved.
Yet, it’s worth noting that the cryptocurrency did see some achievements in the past couple of weeks. Just two days ago, CryptoPotato reported that SHIB got listed on one of the leading Spanish exchanges – Bit2Me.
Before that, on December 9th, one of the largest exchanges in the world – Bitstamp, also listed the cryptocurrency.
Interestingly enough, Bitstamp had previously refused to list DOGE, SHIB’s biggest rival.
Georgi Georgiev is CryptoPotato's editor-in-chief and seasoned writer with over four years of experience writing about blockchain and cryptocurrencies. Georgi's passion for Bitcoin and cryptocurrencies bloomed in late 2016 and he hasn't looked back since. Crypto’s technological and economic implications are what interest him most, and he has one eye turned to the market whenever he’s not sleeping. Contact George: LinkedIn
