Shiba Inu Hits 2-Year Popularity Peak Following Impressive YTD Growth

March 14, 2024
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Shiba Inu’s popularity has soared to a two-year high, with a simultaneous increase in market cap by an astonishing 240%, over the past month.

It is a remarkable ascent that not only highlights Shiba Inu’s resilience but also reaffirms its status as the “Doge-Killer,” amid an influx of new meme coins into the crypto market.

The impressive resurgence has undeniably drawn the focus of both the cryptocurrency community and astute investors. As of early morning Thursday, SHIB’s price hovered around $0.00003282, mirroring its value from early 2022—a period that was marked by a surge of investors and speculators offloading volatile crypto assets.

The remarkable performance of Shiba Inu may indeed be one of the key factors driving its unprecedented spike in popularity, reminiscent of levels last seen in December 2021.

According to data from Google Trends, Shiba Inu’s popularity on the search engine giant’s platform surged to 21 points between March 3 and March 9. This marks a significant increase from its score of 4 points between Feb. 18 and Feb. 24, indicating a huge increase in interest and attention within a relatively short timeframe.

Commonly searched SHIB-related phrases on Google include “Shiba Inu coin news,” “Shiba Inu coin price,” and “Shiba Inu price prediction.” This suggests that users are actively seeking information on various aspects of the Shiba Inu cryptocurrency, from recent developments to price trends and future projections.

Meanwhile, the top countries exhibiting notable interest in Shiba Inu include Singapore, the United States, the Netherlands, Canada, and Belgium, among many others. This widespread global interest underscores Shiba Inu’s growing prominence and appeal across diverse geographical regions.

Last September, a Google Trends report spotlighted Shiba Inu’s remarkable popularity in Canada, achieving a perfect score of 100 in terms of search volume within the country. This metric, indicative of the highest level of popularity for a particular search term, emphasizes the widespread interest and curiosity surrounding Shiba Inu among Canadian internet users.

Speculation has abounded regarding the factors driving SHIB’s surge in popularity, with many attributing it to the launch of its Layer-2 scalability solution, Shibarium, and its prominent presence at the 2023 Blockchain Futurist Conference held in Canada. But a detailed analysis shows that searches for Shiba Inu were evenly distributed across the country, rather than concentrated in specific regions. 

This uniformity suggested a nationwide fascination with the crypto asset, further solidifying its status as a topic of widespread interest and discussion among Canadians.

Shiba Inu’s price was $0.000033, accompanied by a robust 24-hour trading volume of $2,251,511,263 as of 8:03 a.m. ET on Thursday. Over the past 24 hours, Shiba Inu risen by 2.40%, occupying the #11 position in CoinMarketCap’s Top Cryptocurrencies rankings. SHIB boasts a live market capitalization of $19,644,009,532, with a circulating supply of 589,289,410,812,691 coins.

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