The meme cryptocurrency often referred to as the “Dogecoin Killer,” Shiba Inu (SHIB), has recently seen an uptick in both its value and global search interest. Google Trends data indicates a spike in searches for “Shiba Inu,” pointing to a growing curiosity and excitement among investors for the coin.
Surging Searches Indicate Growing Investor Curiosity
Following a period of dormancy, Shiba Inu has reemerged in the public eye with a notable increase in search activity. On March 16th, the search interest for the term “Shiba Inu” reached its peak of 100, with subsequent attention maintaining a significant upward trend. Queries such as “Why is Shiba Inu rising?” and “Shiba Inu All-Time High” have also seen increased frequency, suggesting a rise in investor interest and potential market activity.
The surge in searches is not limited to a specific region, as countries like Pakistan, the Netherlands, Slovenia, Canada, and Nigeria have all shown high levels of interest in SHIB over the past week, highlighting the meme coin’s broad and diverse appeal.
Price Rally Coincides with a Spike in Interest
The SHIB token’s value has significantly appreciated, with an impressive over 180% increase in the last month, culminating in a two-year high of $0.000045. This price rally appears to align with the heightened search interest. Although the price experienced a slight retreat due to market corrections, the Shiba Inu community’s enthusiasm shows no signs of waning.
Despite a market correction, the tenacious community of Shiba Inu supporters continues to be optimistic about the coin’s potential, with some speculating about the feasibility of SHIB hitting the $0.01 mark in the future.
Shibarium Development Key to Long-Term Aspirations
To realize the goal of substantial value growth, attention is being directed toward Shibarium, Shiba Inu’s Layer-2 scaling solution designed to bolster its smart contract capabilities. As Shibarium evolves, it is expected to bring in more users and increase SHIB’s demand. Market analysts believe that the recent enthusiasm for Shiba Inu is fueled by the overall recovery of the cryptocurrency market, as well as strategic ecosystem developments, such as the Shibarium project and initiatives aimed at reducing the coin’s supply.