Shiba Inu is one of the cryptocurrencies that has seen significant spikes last year. The crypto token has made several investors billionaires. Over the course of 2021, SHIB witnessed a notable growth in value and popularity. However, after its last ATH, the decentralized meme-coin seems to be losing steam steadily. Researchers have recently observed that the SHIB on-chain transactions count has fallen by more than 40% in January. Notably, the latest metrics marked the fourth consecutive monthly plunge for the asset.
Shiba Inu trades seems declining
According to data from a blockchain analytics firm, Bloxy.info, Shiba Inu transactions count has declined by more than 40% this month. Over the couple of months, the downtrend represents a fall of more than 41%. In December 2021, the total on-chain transactions were above 475k. However, the count fell to about 279k in January.
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According to researchers, the number of transactions this month is more than four folds lower, in comparison to the ATH of 1.38 million transactions recorded in November last year.
SHIB interest seems on a decline
According to some reports, the demand for Shiba Inu on Google has declined by more than 90% over the past three months. Besides, the search interest for the keyword “Buy Shiba Inu coin” has also dropped substantially from a high of 100 on October to a score of 8 this month. Indeed, the interest has faced a 92% drop over the past three months.
More crypto exchanges are listing SHIB
Although Shiba Inu lost its momentum, crypto assets exchange platforms have continued to list the coin. In recent developments, Uphold has increased meme-coin’s exposure to new users and momentarily increased its value.
Besides, this month, this month the asset has been featured among four of the top trending crypto assets. Indeed, the case indicated that other meme-based cryptocurrencies are stealing Shiba Inu thunder as more investors are seeking to pour their money in similar assets that can make them billionaires.
According to data from CoinMarketCap, at press time SHIB is trading at the price level of $0.00002144. Over the last 24-hours the coin is up by more than 4.3%
Source: https://www.thecoinrepublic.com/2022/01/31/shiba-inu-transactions-count-continues-to-plunge/