Last week, the cryptocurrency market experienced its greatest meltdown yet, with Bitcoin falling below the $29,000 mark. To add to its difficulties, TerraUST and LUNA both dropped to $0 in a sudden drop to 100%. The crash was unlike anything seen in the cryptosphere in recent memory, and it sent shockwaves throughout the industry, demonstrating that not everything dubbed "stable" is indeed stable. Investors are taking advantage of recent price drops by buying more cryptos, and Shiba Inu is one such coin that has seen an increase in its number of holders. As the price of SHIB fell, more than 15,000 new holders joined the fold in less than a week.
Shiba Inu is the second most Googled cryptocurrency in Europe, according to a recent survey. Bitcoin is in first place because Europeans Googled it the most. The third, fourth, and fifth places, respectively, go to Ethereum, Cardano, and Dogecoin.
In Russia, Ukraine, Hungary, Austria, Italy, Switzerland, Spain, Portugal, Denmark, and the United Kingdom, Shiba Inu is the most Googled cryptocurrency. In Germany, Finland, Iceland, Poland, and Belarus, however, Bitcoin is the most Googled.
The rise in popularity comes after both Bitcoin and Shiba Inu's popularity plummeted last week. This suggests that investors are either concerned about a market crash or intend to buy dips, among other things.
Shiba Inu & Bitcoin
According to a recent poll done by Benzinga, investors predict Shiba Inu will hit $0.001 significantly faster than Bitcoin. The poll's breakdown is as follows:
Bitcoin will be the first cryptocurrency to reach $100,000: 35.7 percent.
Shiba Inu will be the first to achieve $0.001: 64.3 percent.
Support for the underdog could be one argument for investors choosing SHIB over BTC. In addition, investors who believe they missed out on BTC have piled millions of dollars into SHIB in the expectation of it'mooning.' Nonetheless, BTC and SHIB have been trading in the red this week, with the indices falling. A bull market or a speedy rebound are unlikely, and the market may take some time to recover.
Bitcoin was trading at $30,086 at press time, up 0.5 percent in 24-hour day activity. Shiba Inu, on the other hand, was trading at $0.00001218, down 2.2 percent on the day.