While shiba inu (SHIB) is on a tear, it may be too early to compare the buzz around the dogecoin-inspired cryptocurrency with the peak retail frenzy observed just ahead of the bull market peak early this year.
At press time, Google Trends, a widely used tool to gauge retail interest in trending topics, is returning a relatively low value of 10 for the search term “how to buy shiba inu” over the past 12 months.
While general interest has picked up slightly with SHIB’s 230% weekly gain, it is nowhere close to the peak of 100 reached on Google Trends in the second week of May. A score of 100 represents peak popularity among the general population – the maximum number of searches observed for a term during a given time frame. It indicates that more and more people are scanning the web for information on the trending topic.
Web data shows SHIB’s latest move higher has yet to catch the attention of retail investors, and further gains may be in the offing.
Google Trends provides access to a mostly unfiltered sample of search requests made to Google and scales these searches on a range of 0 to 100, according to the company. The search value represents the search interest relative to the highest point on the chart for the selected region and time.