Source : zycrypto.com
- DOGE flips Bitcoin as the most Googled cryptocurrency in the U.S.
- Dogecoin has grown in popularity, especially in 2021 with Elon Musk cheering it on.
- Other cryptocurrencies popular in the U.S. were Ethereum (ETH), Shiba Inu (SHIB), Cardano (ADA).
According to new research, Dogecoin (DOGE) was the most googled cryptocurrency in the U.S. this year. The Advisor Coach, a financial advisor, on analysis of Google trends data found that of the 50 states in the U.S., the most searched cryptocurrency in 23 of them including Montana, Florida, and Michigan was DOGE.
Dogecoin is often described as a meme coin as it was created as a “joke” by software engineers Billy Markus and Jackson Palmers in 2013. The cryptocurrency was intended to make fun of the speculative nature of the cryptocurrency market at the time.
Its symbol, which is a Shiba Inu breed dog of Japanese origin, is also a popular meme on the internet. Despite being intended to be nothing serious, the coin has gained traction among many investors as a viable investment. This has even been more highlighted since the billionaire CEO of Tesla and SpaceX, Elon Musk, began openly supporting Dogecoin.
Musk’s cheerleading for the dog-themed coin was behind its rally to an all-time high of around $0.7 in May. Musk’s reasons for supporting DOGE include the fact that it has a lighthearted community that is fun to engage with, and that it is poised to emerge as the best medium of payment among all other cryptocurrencies on the market due to the speed of transaction settlement in its base layer.
However, according to the Google trends data, Bitcoin (BTC) remains highly popular as it was the second most searched cryptocurrency in the U.S. Bitcoin dominated crypto searches in 10 U.S states including Connecticut, Alaska, and Mississippi according to the report. Ethereum (ETH) came in 3rd as the most searched cryptocurrency in 8 states, while Shiba Inu (SHIB) – another dog-themed meme coin – was 4th, being the most searched in 7 U.S. states including New York.
Completing the number were Cardano (ADA), which was the most searched cryptocurrency in Colorado, and Lithium (LITH) which was the most searched cryptocurrency in Pennsylvania. Lithium’s addition to the list is quite surprising as the cryptocurrency is quite out of the way. It is currently ranked as the 824th biggest cryptocurrency by market valuation and has a capitalization of just over $27 million.
In all, the report speaks volumes of the amount of popularity that cryptocurrencies have gained. A spokesperson for The Adviser Coach pointed this out to FinTech Magazine, a finance-focused news outlet. He said that the study was aimed at tracing where most of the investments in cryptocurrencies had been coming from in the U.S.
“This study offers incredible insight into where these investments are coming from across the US, with Dogecoin surpassing Bitcoin as the most popular cryptocurrency on the internet.” the rep said.