Top Altcoins Dominating Google Searches But Suffering Price Declines
Google Trends data reveals that certain altcoins are currently the most searched on the search engine. However, despite the high search interest, their prices are on a downward trend.
Artificial intelligence (AI) related cryptocurrencies are facing a notable decrease in market value. This decline comes as Google searches for AI-related topics have surged, along with heightened interest from retail investors.
Historically, spikes in Google searches for cryptocurrencies have been linked to market peaks. This trend aligns with the investment strategy of Warren Buffet, who suggests buying during downturns and selling during upswings. A similar scenario seems to be unfolding in the AI token market currently.
According to Coingecko data, cryptocurrencies like FET, RNDR, TAO, and GRT have seen a drop of up to 30% in market cap over the past week. This decline coincides with Google Trends data indicating a potential peak in AI search interest.
FET was ranked as the fourth worst performing cryptocurrency among the top 100 last week.
Google Trends data shows that the search query “AI (artificial intelligence)” reached a peak value of 100 in the past 12 months, the highest in five years, indicating a surge in popularity.
Please note that this is not investment advice.
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