Google Trends data reveals a consistent increase in search interest for “CBDC,” which stands for central bank digital currency, over the past five years. The term has maintained a score above 20 since August 2022, on a scale of 1 to 100, where 100 signifies peak interest. CBDCs See Consistent Search Growth, Top Regions Include […]
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NEAR Protocol: From Recent Dip To Google Search Darling β Is $16 Next?
NEAR Protocol (NEAR) is making waves in the cryptosphere, surging to the top of Google searches and capturing investor attention. This newfound interest, coupled with strong activity data from blockchain analytics platform DappRadar, fuels speculation of a potential price explosion.
Some analysts are predicting a meteoric rise to , despite recent dips. However, beneath the bullish bravado lies a layer of technical analysis and short-term volatility that warrants a closer look.
Decoding NEAR’s Google Surge
The recent surge in Google searches for NEAR is undeniable. This newfound interest can be interpreted in two ways. Optimists see it as a sign of growing recognition and potential mainstream adoption.
They point to NEAR’s strong fundamentals β its developer-friendly architecture, focus on decentralized finance (DeFi), and active ecosystem with popular DApps like Kai-Ching and Hot Wallet.
heh, sorry kiddos. looks like NEAR is number one in Google Search trends. another huge W. try it for yourself.
literally too ez
pic.twitter.com/eYKWZM0iWK
β NEAR Protocol (@NEARProtocol) June 5, 2024
According to DappRadar, NEAR’s protocol boasts high transaction volume, reflecting strong network activity. Additionally, DappRadar highlights NEAR’s promising DeFi presence with a healthy total value locked (TVL) within its DeFi applications. This combination positions NEAR as a contender in the evolving blockchain landscape, attracting both retail and institutional investors.
However, skeptics caution against overhyping Google Trends. They argue that search volume doesn’t always translate to long-term price appreciation. It’s possible that the surge is a fleeting fad, fueled by short-term marketing campaigns or even social media influencers. They point to the current price dip as evidence of this disconnect between online buzz and actual market movement.
Can Technical Analysis Steer NEAR To ?
Crypto analyst More Crypto Online has thrown down the gauntlet, presenting a bullish case for NEAR based on the Elliott Wave Theory and Fibonacci retracement levels. The theory suggests that market prices follow predictable wave patterns, and the current price action places NEAR in the potential “second wave” of a five-wave sequence. This, according to More Crypto Online, paves the way for a significant “third wave” with a target price of .
$NEAR: The price is still holding above the relevant support level at .97. As long as this support level holds, it is plausible to watch for a third wave from here, which should send the price to +. However, we need more upside momentum.#NearProtocol #NEAR pic.twitter.com/azsWbQTMKG
β More Crypto Online (@Morecryptoonl) June 12, 2024
While this analysis offers an interesting roadmap, it’s crucial to acknowledge the limitations of technical analysis. These models are based on historical price movements, and the future market can be notoriously unpredictable.
Can The Coin Maintain Its Bullish Balance?
The key to NEAR’s potential surge lies in the crucial support level of .97. If the price stays above this point, it bolsters the bullish outlook and potentially triggers the anticipated third wave. A successful third wave could propel NEAR to significant price targets, initially around .5 and potentially reaching even higher.
Featured image from Shutterstock, chart from TradingView
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One of the leaders in the augmented reality industry, Magic Leap, announced on May 30 that it had partnered with Google to enhance the potential of augmented reality technologies. This new collaboration aims to release unique product offerings while further expanding the longstanding relationship between the two companies. Magic Leapβs Optics Expertise Combined With Googleβs […]
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TRON DAO Adds Google Cloud as a Super Representative Candidate on the TRON Blockchain
PRESS RELEASE. Geneva, Switzerland, May 14th, 2024 – TRON DAO today announced that Google Cloud has joined its roster of Super Representative candidates on the TRON blockchain. Super Representatives are responsible for producing blocks and packing transactions to help ensure blockchain governance on the TRON network. This initiative builds on TRON’s collaboration with Google Cloud […]
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Philippines Securities Regulator Requests Apple and Google to Remove Binance Apps
The Securities and Exchange Commission (SEC) of the Philippines has requested that tech giants Apple and Google remove Binance apps from their respective app stores. The SEC chairman stated that the blockade on Binance, coupled with the removal of its app, curbs the further spread of its unlawful activities in the country. Binance Apps Pose […]
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Google Searches for Bitcoin Halving Skyrockets as Major Event Approaches
The excitement surrounding the upcoming Bitcoin halving has led to a significant increase in Google searches for “Bitcoin halving,” with interest reaching its highest point ever, more than double that of the last halving event in 2020, and is predicted to hit peak popularity. The halving event, which reduces the rewards miners receive by half, […]
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Google Sues Chinese Nationals for Running Crypto Scam Using Google Play App Store
Tech giant Google has filed a lawsuit against two Chinese nationals, accusing them of developing fraudulent cryptocurrency apps on the Google Play store and defrauding more than 100,000 users globally. “This is a unique opportunity for us to use our resources to actually combat bad actors who were running an extensive crypto scheme to defraud […]
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Google Introduces Cryptocurrency Wallet Balance Check via Search Engine
Google has enhanced its search engine to allow users to check their cryptocurrency wallet balances directly by entering the wallet’s address, supporting various blockchain networks including Bitcoin, Arbitrum, Avalanche, Optimism, Polygon, and Fantom. This feature not only shows the native token balance of a wallet for each supported network but also indicates the last time […]
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Shiba Inu Takes Over The Internet: Google Searches Climb As Global Interest Surges
Shiba Inu (SHIB), the self-proclaimed “Dogecoin Killer,” is back in the spotlight with a surge in both search interest and token price. Google Trends data reveals a global increase in searches for “Shiba Inu” and related queries, indicating renewed investor optimism for the meme coin.
Shiba Inu Surge Sparks Enthusiasm
This increase comes after a quiet period for the memecoin. However, the past month has been nothing short of phenomenal. Search popularity reached a seven-day peak of 100 on March 16th, though it has settled at a still-healthy 48 β significantly higher than January’s levels. Phrases like “Why is Shiba Inu going up?” and “Shiba Inu All-Time High” have also seen a significant uptick, reflecting investor curiosity and potential buying interest.
While the interest is global, specific regions are leading the charge. Pakistan, the Netherlands, Slovenia, Canada, and Nigeria have emerged as the top search originators for SHIB in the past week. This geographically diverse interest suggests a broad-based appeal for the meme coin.
This renewed interest coincides with a remarkable price rally. SHIB’s value has skyrocketed over 180% in the past month, reaching a two-year high of .000045. This bullish run fueled speculation of a retest of its all-time high above .000088. However, the market has since witnessed a correction, bringing SHIB’s price down slightly.
Despite the correction, the enthusiasm within the Shiba Inu community remains high. The long-term goal of reaching .01 per SHIB token continues to be a hot topic, although analysts caution it might take several years to materialize.
Shibarium And Market Recovery
To achieve this ambitious target, the developers are focusing on Shibarium, the project’s Layer-2 scaling solution. Shibarium aims to become a thriving smart contract hub, potentially attracting more users and driving up demand for SHIB.
Experts believe several factors are contributing to the current Shiba Inu frenzy. The broader cryptocurrency market has shown signs of recovery after a recent slump, potentially boosting investor confidence in meme coins like SHIB.
Additionally, ongoing developments within the Shiba Inu ecosystem, such as Shibarium and the burning initiatives to reduce the overall token supply, might be fueling investor optimism.
Whether SHIB can maintain its current momentum and reach its long-term price goals remains to be seen. However, the recent surge in search interest and price rally is a clear indication that the “Dogecoin Killer” is back in the game, attempting to capture the hearts (and wallets) of memecoin enthusiasts worldwide.
Featured image from Pexels, chart from TradingView
Gods Unchained Goes Mobile: Play-to-Earn NFT Game Launches on Google Play and Apple App Store
On Thursday, the creators of the Immutable X-powered non-fungible token (NFT) game Gods Unchained announced that the game is now accessible on mobile devices. The Gods Unchained application has made its debut on both the Google Play Store and Apple’s App Store across the globe. Godβs Unchained Launches Mobile Application The popular play-to-earn strategy card […]
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