In a surprising development, the cryptocurrency Shiba Inu (SHIB) has surpassed other well-known altcoins such as Dogecoin (DOGE) and Cardano (ADA) in popularity among investors in both the United States and Canada. This finding is based on a recent data analysis from Google (NASDAQ:GOOGL) Trends, which indicates that Shiba Inu has been the more frequently searched term over the past 30 days.
The peak of Shiba Inu's search volume occurred on August 15, one day prior to the unveiling of Shibarium. At this point, it reached a Google Trend value of 100, marking the maximum popularity for the search term. In comparison, a value of 50 would denote half as much interest.
During the same period, the search volumes for Dogecoin and Cardano hovered around 30, suggesting that these two digital assets have not garnered the same level of interest as Shiba Inu.
Despite the easy assumption that Shiba Inu's surge in popularity could be attributed to its team unveiling Shibarium at a conference in Canada, Google Trends data provides a different perspective. Over the past 90 days, Shiba Inu's search volume in Canada has consistently outperformed Dogecoin and Cardano, maintaining an above-average popularity score above 50. Meanwhile, Dogecoin and Cardano's scores have remained near 25.
This trend is not limited to Canada as a whole but extends to individual regions within the country. For example, in the Northwest and Yukon territories, Shiba Inu accounted for all cryptocurrency searches over the last day. Similarly, in New Brunswick (NYSE:BC), Newfoundland, and Labrador territories, Shiba Inu represented more than 70% of all crypto-related search volume.
The trend is mirrored in the United States as well with American investors also demonstrating significant interest in Shiba Inu. Over the past day, searches for Shiba Inu have dominated over Cardano and Dogecoin.
In conclusion, despite the competitive landscape of the altcoin market, Shiba Inu has successfully captured the attention of North American investors, outpacing its more established rivals in search volume, thereby indicating a higher level of interest.
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