During Thursday’s Asian trading session, the SHIB/USD pair failed to stop its previous session’s downward rally and remained depressed around the $0.000040 level. Crypto markets are currently in a risk-off mode following fresh highs established by bitcoin and ether two weeks ago, which has resulted in the memecoin Shiba Inu (SHIB-USD) continuing to drift lower from its all-time high of $0.00008 set in October.
Furthermore, reports indicate that the number of worldwide Shiba Inu searches has dropped to a monthly low, according to Google trends. Shiba Inu’s price is 50% lower than the ATH. According to sources, the number of international Shiba Inu searches has dropped to a monthly low, according to Google statistics. As a result, SHIB’s price has plummeted by half when compared to ATH.
On the bright side, the Toronto-based healthcare services provider Ask the Doctor now allows users to pay for medical services in Dogecoin (DOGE), Floki Inu (FLOKI), and Shiba Inu, which has had a beneficial influence on cryptocurrencies such as SHIB coin. At the time, SHIB/USD was trading at 0.00004046 points with a 24-hour trading volume of $4,246,677,014.
The continuous losses could be linked to recent reports claiming that the number of international Shiba Inu searches has dropped to a monthly low on Google Trends. As a result, the price of SHIB has dropped by half compared to ATH. As a result, the crypto industry’s trends tend to shift swiftly. People’s attention can be drawn to a certain asset, but it can also be drawn away just as fast.
This appears to be the case with Shiba Inu, the hottest digital asset in recent months. It was all over the place. Its rally was debated left and right, not only on crypto media outlets and Twitter but also on more traditional media, from its mind-boggling price jumps to other firms wanting to get on board to catch the wave. However, the situation has now changed. The price of SHIB has dropped, and demand for the asset does not appear to be as strong.