According to the sharing-folks at Shareaholic, Pinterest is starting to lose steam in the referral category. After continued growth for about a year, and a huge peak in February, its power seems to be dwindling.

Shareaholic, using 200,00 publishers shows that Pinterest went from a 1.05% share of all referral traffic in Feburary to a low of .74% of all shares in April. This makes it no longer above Twitter, and leads people to wonder if the product will continue to decline and be one of those “fad” things.

Still, perhaps this has nothing to do with Pinterest, but just with Shareaholic. According to Alexa, traffic in Pinterest is still going up. If Shareaholic is correct however, and traffic is growing in Pinterest, but shares are really down, it has to make people wonder about the quality of the people joining. As a small community of interested people, Pinterest has value and targeting abilities beyond anything else. As a growing fad, who knows?

What's your opinion?