Searches for Dogecoin ($DOGE) have been dwarfing searches for other cryptocurrencies like BTC or its rival meme-inspired cryptocurrency Shiba Inu ($SHIB), at least in the United States. Analysis has revealed DOGE is the most searched for crypto in 23 states.
Bitcoin, the flagship cryptocurrency, was the second-most popular cryptocurrency with ten states having the cryptocurrency on top of their searches. DOGE is believed to be on top partly thanks to endorsements from Tesla CEO Elon Musk and other celebrities.
As CryptoGlobe reported, search interest for Dogecoin exploded during the cryptocurrency’s massive 10,000% price rally, going from an average of 135,000 monthly searches in April 2020 to 16.5 million in April 2021.
Dogecoin was created back in 2013 as a joke. The cryptocurrency’s community is well-known for taking on philanthropic projects, which included helping charitable organizations. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.
Search interest data in the U.S. came from research conducted by financial advisor The Advisor Coach, as first reported by CityAM, which analyzed Google Trends data to get to its results.
The third-most searched-for cryptocurrency, according to Google Trends, was Ethereum with 8 states having it on top of their searches. Next to ETH came DOGE rival Shiba Inu, with 7 states focusing more on the cryptocurrency that saw its price surge over 14,000,000%.
Cardano ($ADA) was the most searched for cryptocurrency in one state, as was Lithium ($LITH), a little-known cryptocurrency with a market capitalization below the $20 million mark.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Unsplash
Source: Read Full Article