Shiba Inu (SHIb) hits 90-day low in popularity

Memecoins have plummeted from record highs. Shiba Inu (Shib) is no exception and the dog-themed token that even managed to beat Bitcoin in 2021 to become the most-watched cryptocurrency on CoinMarketCap is now experiencing a painful decline as its popularity wanes.

Shiba Inu's fame has been a huge success

According to data from Google Trends, the number of Shiba Inu searches has fallen sharply over the past two months, with interest in the keyword peaking in October 2021, and the asset's price also hitting an all-time high

Usually Google Trends demonstrates retail interest in a particular asset and the boom often coincides with an important event in terms of its development and vice versa.

Earlier, Shiba Inu overtook the world's two largest cryptocurrencies Bitcoin and Ethereum to emerge as the most viewed digital asset in CoinMarketCap's crypto data pool last year.

Not surprisingly, the current inaction comes at a time when SHIB's price has been struggling, now sandwiched between Polygon (MATIC) and Binance USD (BUSD) by market capitalization.

The lack of catalyst to push memecoin higher is a major factor leading to the subsequent declines for SHIB, as the broader market sentiment has not been good, and since peaking at $0.000088 in the last week of October the token has lost about 70% down to $0.00003.

Meanwhile, interest in OG - Dogecoin (DOGE), which previously attracted the attention of investors around the world, is also weak

Will Bitso come to the rescue?

Recently, Shiba Inu was listed on Mexico's largest cryptocurrency exchange Bitso, and earlier it fetched assets from a large number of large trading venues such as Binance, Coinbase, Gemini, Bitstamp, etc.

Although the previous developments did not stimulate any noticeable price movement and although the listings of the platform are usually positive catalysts for the cryptocurrency, it remains to be seen whether the Bitso news will have a positive impact on the trajectory of SHIB.

In addition, Nasdaq-listed Harbor Custom Development Inc became the latest IRADA company to announce its support for Shiba Inu, as well as other digital assets such as Bitcoin, Ethereum and Dogecoin, with the report stating that the real estate company was looking to accept cryptocurrency as payment for its residential homes and other properties. As of January 24th.