📣 Bitcoin Searches Hit a Low, Memecoins on the Rise
posted 14 Oct 2024
Google Trends data shows that searches for "Bitcoin" have dropped to a 12-month low, scoring just 27 out of 100. The search interest peaked (100 points) in March 2024.
This suggests a drop in interest in Bitcoin on Google, but countries like El Salvador (100 points), Nigeria (75 points), Switzerland (63 points), the Netherlands (56 points), and Slovenia (56 points) are still searching frequently for the top cryptocurrency.
Bitcoin search trends for the past year Source: Google Trends
El Salvador's high ranking isn’t surprising, given that Bitcoin has been legal tender there since 2021. The country has invested heavily in Bitcoin and uses geothermal energy from volcanoes for mining. Even the IMF has softened its stance on El Salvador’s Bitcoin usage recently.
On the other hand, searches for "Memecoin" show an opposite trend. Starting at the end of September, searches surged, reaching a score of 77 in the week of October 6–12. As of the time of writing, Google Trends shows a score of 61 for Memecoin.
Memecoin search trends over the past year Source: Google Trends
Ki Young Ju, CEO of CryptoQuant, predicted that Memecoin search volume will hit an all-time high this month (October). A user on X questioned this claim, but Ki Young Ju has yet to respond at the time of writing.
In the first half of 2024, memecoins outperformed all other cryptocurrency sectors, with a staggering 1834% return. Whether this trend will last is uncertain. Read more on why memecoins are attracting investments in a dedicated article on our site.
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