The crypto market is always changing its pace, making turns at all the old angles, and it happens all the time. You might see a cryptocurrency becoming the people’s favorite for some time, say a week or even a month, but after that time has passed, new crypto might take its place and become the new favorite. This is an ongoing circle among the crypto market and enthusiasts. Recently Shiba Inu was doing so great by being able to surpass the market cap of Dogecoin and becoming the ultimate meme-based cryptocurrency, but that has come to pass.
It was being approached generously by people around the world, and Google trend picked up the data, which shows that after a whole month, the interest of people in Shiba Inu is now lacking. According to the data collected from the Google trends, Shiba Inu is already receiving 50% less traffic globally than it used to be after scoring a new all-time high. It’s been over a month since the cryptocurrency has lost its all-time high and has been coming down in terms of price and value consistently. It is believed that the exclusive attention and focus from investors are now over, and some other cryptocurrency might soon take its place to become the people’s favorite.
Digital Assets are Volatile
This goes on to show how social media can influence digital assets as they are volatile and currently being a new model of financial technology, getting more interest from people of all classes and ages. You might not have come around a post on social media telling you to buy a dollar or some other fiat currency, for that matter, because they are not trending. What’s trending in the crypto market and the volatile digital assets that continue to be mentioned in various social media posts, blogs, and news articles on the Internet. This is from where many investors and people who want to make a quick buck gather their inspiration but only for a limited time frame.
When they think that their efforts are not returning a solid return on investment, they latch on to some other cryptocurrency that is being hyped or influenced on social media channels. This goes on to show how inconsistently irrelevant crypto investment can be when too much hype is created but is left unjustified in the end.