Advanced Analysis Free Trading Signals Real Time Alerts

Shiba Inu Hits 90-Day Popularity Lows, Did Robinhood Jump The Gun?

Trade HOOD Stock Your Capital Is At Risk
Updated: 13 Jan 2022

Key points:

  • Shiba Inu hits 90-day popularity low on Google Trends, price has dropped accordingly
  • Aniticapiton for Robinhood's listing of the coin may retreat with its dying popularity

The power of meme stocks has been proven on multiple occasions; illustrating the real power of amassed retail investors. It was no surprise then, that when cryptocurrency hit the big league of mainstream investment; the emergence of ‘meme coins’ swiftly followed, and gained unbelievable traction. 

Bearing in mind the success of the meme coins’ predecessor Dogecoin, and what that proved about retail investor rallies; it was only a matter of time before the crypto collective latched on to the next ‘to the moon’ coin – and Shiba Inu took off. 

However, the reality of Shiba Inu might be starting to hit home for the retail masses. The story is very clear – unless we’re all in it, none of us are. The coin really took off around the start of October, hitting a peak of $0.000088 in the final week. Since then, however, the token has fallen to around $0.00003 – losing around 70% of its value. 


Read Also: Best Stocks To Buy Right Now

Why? Because the hype is fading. Google Trends highlights a rather worrying red flag for the token’s holders – as Shiba Inu popularity hits 90-day lows – mirroring the token’s extended downside since the end of October. 

Now, another curious angle to emerge from Shiba Inu’s enigmatic decline; is Robinhood’s plans to add to the token to its tradeable assets – with rumors suggesting it might be available as early as February. Robinhood caused quite a stir amongst retail crypto traders with its decision late last year, but it’s worth wondering whether Robinhood’s popular pick might backfire as Shiba Inu crowds continue to dissipate.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage . 68 % of retail investor accounts lose money when trading CFDs with this provider . You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money .