Shiba Inu Interest Hits 2-Year High On Google: The 10 Countries With The Most Searches For Dogecoin Rival
Portfolio Pulse from Chris Katje
Shiba Inu (SHIB) interest has surged to a two-year high on Google, indicating increased investor awareness and valuation. Launched in 2020 as a Dogecoin (DOGE) rival, SHIB leverages the Ethereum (ETH) network and has introduced a decentralized exchange, ShibaSwap, with native tokens LEASH and BONE. The recent interest spike is accompanied by a significant SHIB token burn, aiming to reduce supply and potentially enhance valuation. SHIB's current price is $0.0000284, with an all-time high of $0.00008845 in October 2021.
March 18, 2024 | 2:53 pm
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NEUTRAL IMPACT
Dogecoin (DOGE), as Shiba Inu's rival and similarly themed cryptocurrency, may experience indirect effects from SHIB's increased interest and valuation.
While the article focuses on SHIB, DOGE, being a direct competitor and similarly themed meme coin, might see indirect effects from the increased interest in SHIB. However, the impact is less direct and more speculative.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
Ethereum (ETH) benefits indirectly from Shiba Inu's increased interest as SHIB leverages the Ethereum network for its operations.
SHIB's operation on the Ethereum network means increased activity and transactions on ETH could occur as a result of SHIB's increased interest. However, the impact on ETH's valuation is more indirect and less certain.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 40
POSITIVE IMPACT
Shiba Inu's (SHIB) Google search interest has reached a two-year high, indicating growing investor attention and potential for increased valuation due to recent token burns.
The surge in Google search interest for SHIB suggests a growing investor interest, which could lead to increased buying pressure. The token burn initiative is likely to reduce supply, potentially driving up the price in the short term.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100