Bitcoin’s Google Search Interest Hits Yearly Low, Meme Coins Continue to Dominate

Key Takeaways:

• Bitcoin’s Google search volume dropped to a yearly low of 33 from a scale of 100 in October 2024.
• In contrast, the search volume for meme coins surged to 77, with platforms like Pump.fun fueling the meme coin boom.
• Despite the interest, some experts remain skeptical about memecoins.

According to data from Google Trends, worldwide search interest in Bitcoin has plummeted to a new low. As of October 12, the search volume for the term “Bitcoin” dropped to just 33 out of 100. barely surpassing the record low of 29 set in October 2023.

Bitcoin’s Search Volume Declines Sharply in 2024 As Meme Coins Outperform

The recent decline in search interest represents a significant decrease from January 2024, when Bitcoin search volumes stood at 82. 

💥BREAKING: #Bitcoin Google search volume hit a yearly low. pic.twitter.com/VH98VEPYeg

— Crypto Rover (@rovercrc) October 13, 2024

Similarly, the 2024 year's peak came in March when Bitcoin's price hit its all-time high of $73,750, but interest has steadily declined since then.

Bitcoin search interest in the last 12 months/ Source: Google Trends

Regions where Bitcoin search interest has remained strong include El Salvador, Nigeria, Switzerland, the Netherlands, and Slovenia. 

Despite the decline, industry experts remain optimistic. Michael Saylor, a well-known Bitcoin advocate, recently pitched a “Bitcoin collection” to Portuguese footballer Cristiano Ronaldo to reignite interest in the leading cryptocurrency.

A #bitcoin collection would go well with that watch collection.

— Michael Saylor⚡️ (@saylor) October 13, 2024

While Bitcoin’s search interest fell, meme coins surged in popularity. 

According to Google Trends, search volume for “meme coins” reached 77 out of 100 during the same period, reflecting growing interest, though it remains below the all-time high of 100 set in October 2023. 

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

Platforms like Pump.fun and Solana played a crucial role in this resurgence, enabling the creation of nearly 491,000 new tokens on the Solana network since September 12.

As of October 12, Solana’s meme coins collectively reached a market cap of over $10 billion and a 24-hour trading volume of $2.3 billion. 

Justin Sun’s Tron network also contributed to the meme coin boom with its SunPump platform, which has created 90,000 new meme coins since August.

Despite the growing popularity of meme coins, several industry figures have raised concerns. 

Billionaire investor Mark Cuban, for example, expressed his skepticism, calling meme coins “a rug pull in the works” and warning investors about the risks associated with speculative assets.