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Individual investors turn to the crypto market and buy “Shiba Inu” instead of Bitcoin

Individual investors turn to the crypto market and buy “Shiba Inu” instead of Bitcoin

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Answer Individual investors turn to the crypto market and buy “Shiba Inu” instead of Bitcoin

Individual investors have always played a major role in the cryptocurrency space, but it seems that they have not yet reached Bitcoin, at least for the time being, which is what Google searches for the largest cryptocurrency show.

At the same time, they seem to have a new favourite, an alternative to Bitcoin, the Shiba Inu cryptocurrency.

Retail Investors Aren’t Here for Bitcoin:

Bitcoin investors and individuals often move in tandem.

Back in 2017, when the cryptocurrency drew its own $20,000 high, small investors were behind the rally in the first place.

Something similar happened three and four years later which is what we saw happen when Bitcoin rose to a new historic high in April, as searches on Google rose and it is usually a valid indicator of the behavior of the movement of individuals and retail investors.

Read:Report: “Facebook” is preparing to launch a stable digital currency for payments, commerce and electronic

However, the situation seems completely different now.

A few weeks ago, the number of queries and searches on the world’s largest search engine containing “bitcoin” or “buy bitcoin” was still relatively low.

However, Bitcoin continued to hit a new all-time high at $67,000 shortly after.

Searches hardly increased despite the new record.

Individual investors are here for “Shiba Inu”:

Google Trends data shows that small investors are already in the cryptocurrency scene but are not looking for Bitcoin, Ethereum, Ripple, or Binance.

They even forgot about the previous 2021 sentiments regarding Dogecoin and SafeMoon.

Instead, they are now looking primarily for the self-proclaimed “DOGE” coin, the Shiba Inu coin.

Source: Google Trends

As the chart above shows, the expected weekly inquiries for “Shiba Inu” broke the previous record, which came earlier this year.

This coincided with the recent surge in the price of the “Shiba Inu”.

Launched as a meme currency last year, “Shiba Inu” has seen an impressive growth in terms of adoption, which is revealed by the growth of the huge “SHIBArmy” army, which is currently represented by hundreds of thousands of fans.

Read:The collapse of some decentralized finance projects from $4,000 to $1 in 5 minutes

The Shiba Inu cryptocurrency is arguably the best performing since the beginning of the year, with an amazing ROI of over 100,000,000% (yes the number is correct, one hundred million percent).

Read:Singapore’s OCBC Bank Collaborates with Crypto Exchange to Issue Green Digital Coins

The chances of such an impressive boom flood the minds of retail investors, many of whom are aiming for quick profits.

However, the crypto community has seen many similar trends come and go, many of which have resulted in collective pain for those late to the party.

This does not necessarily mean that the same scenario can happen with “Shiba Inu” either.

However, future investors should focus on doing proper research to look for the underlying reasons behind their desire to buy a particular asset rather than following what is currently hot and prevalent.

Read also:

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Edward Snowden makes a statement and comments on the “Shiba Inu” coin… Learn about his statements!


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