Updated: November 22, 2021 4:07:09 pm
Dogecoin–a meme cryptocurrency and Shiba Inu rival–has topped the list for the most searched cryptocurrencies in the US, beating the likes of the most valuable cryptocurrency such as Ethereum and Bitcoin, revealed research by The Advisor Coach, a financial advisor.
According to the analysis of the Google Trends data, Dogecoin was the most searched cryptocurrency in October, with a total of 23 states, including Illinois, Florida, Hawaii, and New Jersey searching for the keyword ‘Dogecoin’. There was an average of 7 million searches for content about Dogecoin.
Dogecoin (DOGE) was developed by software engineers Billy Markus and Jackson Palmers in 2013 as a joke, but it is not a joke anymore—the level of interest in DOGE far exceeds the combined averages for Bitcoin and Ether.
The rise of Dogecoin is speculated to be fuelled after tech billionaire Elon Musk, who has been a staunch promoter of meme coins— said in May that electric vehicle company Tesla, might accept Dogecoin as a mode of payment.
It is worth noting that Bitcoin has emerged as the second most popular crypto asset, with more than 10 states looking to invest in Bitcoin, including Connecticut, Alaska, Mississippi, and New Hampshire. And Ether stands third-highest number in the research. US states seeking to invest in Ethereum the most include Georgia, Louisiana, Virginia, and Ohio.
Lithium was a popular cryptocurrency in the state of Pennsylvania, and Cardano has emerged as the most popular cryptocurrency in only one state — Colorado.
“With more than 6,500 cryptocurrencies available globally, it is fascinating to see currencies that may not be the most valuable are still the most sought after,” said an Advisor Coach spokesperson, as quoted by NDTV.
Meanwhile, Dogecoin’s rival Shiba Inu was the most discussed cryptocurrency on Twitter during October, as per the data compiled by ICO Analytics. The analysis firm revealed the 20 most discussed cryptocurrencies on Twitter and Shiba Inu has emerged as a clear winner, receiving a 22 percent share of all crypto assets discussions on the platform, dwarfing Ethereum by 8.1 percent and Bitcoin by 7.2 percent.
Data for October by the company shows that Ether, Bitcoin, and Dogecoin occupied the second, third, and fourth positions, respectively, in the Twitter popularity index.
Disclaimer: Cryptocurrency is an unregulated space and digital currencies are not backed by any sovereign authority. Investing in cryptocurrency comes with market risks. This article does not claim to provide any kind of financial advice for trading or buying cryptocurrency.
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