There is not any doubt that last year has been the year for crypto. Bitcoin has been heralded as a hedge against inflation with Gold. Ethereum is fast becoming the crypto for decentralized finance choice, an item of a digital collector called NFT and soon the metaverse. But neither of these cryptos captured the imagination of people, but bitql app is updated software for crypto traders. Dogecoin is a meme coin developed by Jackson Palmers and Billy Markus, two software engineers in 2012. The interest level in Dogecoin exceeds more than the total averages for Ether and Bitcoin.
Dogecoin’s rise is speculated to be enhanced after Elon Musk, the tech billionaire promoted such meme coins. In May last year, he said that Tesla, the electric vehicle company may be accepting Dogecoin as a payment method.
The meme coin has topped the list of the most searched crypto in the US and beat the likes of the most valuable cryptos like Bitcoin and Ethereum. It was revealed by a financial advisor’s research. As per the analysis of the data of Google Trends, in October, Dogecoin was the most searched crypto with almost 23 states such as Florida, Illinois, New Jersey, and Hawaii searching with the ‘Dogecoin’ keyword. On average there were 7 million searches for Dogecoin content.
List of the top cryptocurrencies
- Bitcoin emerged as the second most well-known cryptocurrency with over 10 states interested to make Bitcoin investments such as New Hampshire, Alaska, Connecticut, and Mississippi. Ethereum is the third most popular as per research.
- Some US states that seek to make Ethereum investments the most are Ohio, Georgia, Virginia, and Louisiana.
- On the other hand, Lithium has been a popular crypto in Pennsylvania. Only in Colorado, Cardano came out as the most popular one.
- Over 6500 crypto is available worldwide. Some cryptos that are not the most precious ones are still the most searched for.
- Shiba Inu, the rival of Dogecoin, was the most talked-about crypto on Twitter last year in October.
- There were 20 most talked-about cryptos on Twitter. Shiba Inu was the clear winner and received a 22 % share of every cryptocurrency asset discussed on Twitter and dwarfed Ethereum and Bitcoin by 8.1 % and 7.2 %.
- Such search trends highlighted the effect of the hype around Dogecoin and Shiba Inu. They outshined historical crypto coins that remained prominent in the space of digital currency for years.
Some data provided by the study on the Google trends
- In 23 states in the US, Dogecoin is leading the cryptos as the most Googled crypto.
- The search for the term Bitcoin has now a score of 29 out of the top 100 scores in the US.
- During 16th-22nd May 2021, the search query of Bitcoin last achieved a 100 score.
- The search volume of Cardano increased by 40 % in the last month.
- However, it earned only a 2.6 % increase on an annual basis.
- The Cardano search term scored 100 highest points from 9th-15th May 2021.
- The research of Coin Insider attributed the popularity of Dogecoin partly to the meme coins endorsement on social media by Elon Musk.
- Apart from celebrity endorsement, the sudden rise of the growth of this meme coin can get tied to the enhanced use cases or listing on the renowned trading platform.
- In the case of Dogecoin, the listing on Robinhood, the retail investment app, was considered to be the main driver last year.
- Also, Shiba Inu fans are keen to list the token on Robinhood.
- Moreover, both these meme coins are recording great utilization for transactions in the retail sector.
Conclusion
Currently, Dogecoin is the 12th largest cryptocurrency asset with a valuation of $19.8 billion in its market cap. It is also the top meme coin out of the meme-based cryptos worth $36.4 billion. Coin Insider, the blockchain news website, did a recent survey and analyzed the data of Google trends of some popular cryptos in the US. It revealed that the most searched digital currency online by maximum states in the US. Dogecoin has been reported to be the most Googled crypto in the US. It was reported by Bitcoin.com citing such a study. The meme coin’s search volume has been the highest in most of the states in the US compared to other cryptos.
