Although retail investors have played an important role in cryptocurrency, it appears they are still not yet on the Bitcoin scene. At least, that is what Google searches for the largest cryptocurrency show. They also seem to have a new favorite, the Shiba Inu.
Bitcoin is not for retail
Retail investors and Bitcoin have often moved in tandem. When the cryptocurrency reached its ATH of $20,000 in 2017, smaller investors were the primary drivers behind the rally.
Three and four years later, something similar happened. When BTC tapped April ATH, the Google search spiked again – which is usually a good indicator of retail behavior.
The situation is now quite different. The number of queries that contained “bitcoin” and “buy bitcoin” on the largest search engine in the world was still low, as reported by a few weeks back. The asset reached a new record of $67,000 within a matter of days. Despite the new record, searches did not increase.
Google Searches for Bitcoin Worldwide Source: Google Trends
Similar results are seen for “buy bitcoin”, another very popular query. However, this is still a relatively low number. These Google searches grew in popularity during the peak years, but have remained relatively flat since the last peak at $67,000.
Google Searches for Bitcoin Source: Google Trends
But they are here for Shiba Inu
Google Trends data also shows that smaller investors are present in cryptocurrency landscape, but they aren’t looking for Bitcoin Ethereum Ripple Binance Coin, Bitcoin, Ethereum, Ripple or Ripple. They even forgot about the 2021 sensations Dogecoin, SafeMoon.
They are instead primarily looking for the self-proclaimed DOGE killer, Shiba Inu.
Shiba Inu (SHIB) Google Searches 12M Back. Source: Google Trends
The graph below shows that Shiba Inu will surpass the previous ATH. They will actually surpass it in the exact same dominant fashion that the asset’s value charted an earlier record earlier this week, roughly twice as high.
This coincided the recent rise in popularity of Shiba Inu. It was launched last year as a meme coin. It has experienced impressive growth in terms od retail adoption, including the huge SHIBArmy, which currently has hundreds of thousands of followers.
With a staggering ROI of over 100,000,000%, the cryptocurrency is undoubtedly the most successful since the beginning of the year.
Retail investors who are looking for quick profits may not be able to see such a dramatic surge coming.
However, cryptocurrency has seen many similar trends pass, many of them causing mass pain for those who are late. However, this doesn’t mean that Shiba Inu could have the same faith.
Future investors should do proper research and look for the fundamental reasons they want to purchase a specific asset, rather than chasing what’s hot right now.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.