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Data Exposed: These Altcoins Are Dominating Google Searches – However…
Data Exposed: These Altcoins Are Dominating Google Searches – Yet Their Values Are Plummeting
Recent data from Google Trends reveals that the search volume for these altcoins has skyrocketed on the search engine. Despite this surge in interest, their prices are not reflecting the same enthusiasm.
Author:
Mete Demiralp
19.06.2024 – 08:01
Update:
8 seconds ago
0
Cryptocurrencies linked to artificial intelligence (AI) have witnessed a significant decrease in their market value. This decline comes amidst a peak in Google searches related to AI and a surge in retail investor interest.
Historically, spikes in Google searches for crypto have often signaled major market peaks. This trend seems to align with the investment philosophy of Warren Buffet, who advises buying during downturns and selling during upswings. A similar trend is now emerging in the AI token market.
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Are Altcoins Facing a Major Downturn Due to This? Here’s the Concern
According to Coingecko data, AI-focused cryptocurrencies like FET, RNDR, TAO, and GRT have experienced market cap drops of up to 30% over the past week. This drop coincides with Google Trends data indicating a potential peak in AI interest.
FET was among the worst-performing cryptocurrencies in the top 100 list last week
Google Trends, a popular tool for gauging investor interest in trending topics, shows that searches for “AI (artificial intelligence)” hit a score of 100 last week, the highest in the past five years. This surge in interest signals peak popularity.
*This is not financial advice.
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