Bitcoin Search Interest Hits Yearly Low

Over the past 12 months, the number of Google searches for “bitcoin” has dropped to a low of 24 points.

The peak value of 100 was recorded in March when the price of digital gold reached a historic high of over $70,000.

A similar trend was observed for altcoin searches. However, interest in meme coins remains relatively stable, though it is far from the levels seen in early June.

In the English-speaking segment of the internet, the picture differs — the popularity of the memecoin search is rising. According to Ki Young Ju, founder and CEO of CryptoQuant, search volumes could return to last year’s historic highs by the end of October.

Memecoin Google search volume is expected to reach an all-time high this month. pic.twitter.com/ZOfsLFwGmH

— Ki Young Ju (@ki_young_ju) October 12, 2024

The Solana ecosystem news channel reported that the total market capitalization of meme tokens has surpassed $10 billion, with a daily trading volume of $2.3 billion.

? JUST IN: Solana meme coins’ total market cap surpasses $10B, with $2.3B in trading volume recorded in the last 24 hours. pic.twitter.com/KMo9dVJwWw

— SolanaFloor (@SolanaFloor) October 12, 2024

The segment is recovering despite the widespread failure of new coins and the disappointment of some traders — the odds of finding a successful meme coin proved lower than winning at a casino.

According to The Block, against this backdrop, Solana’s fee revenues have returned to August levels following a September decline.

Earlier, billionaire and crypto investor Mark Cuban criticized meme tokens, calling them all potential rug pull schemes.