A study has shown that Dogecoin got the highest search volume in the Google trends amongst cryptocurrencies in the United States of America. Bitcoin, the biggest cryptocurrency in terms of market capitalization, only comes in second next to Dogecoin.
Becky, a researcher from Coin insider, has discovered that Dogecoin got the most searched cryptocurrency across the US. Although Bitcoin remains to be the leading cryptocurrency, Google Trends shows that Dogecoin has the highest search volume to almost 50% of the whole United States.
Elon Musk publicly announced his support for Dogecoin
Dogecoin got so much attention since Elon Musk publicly announced his support of the meme token. Its popularity can be attributed to the endorsement of Elon Musk who announced that Tesla will be accepting Dogecoin as an option for payment. Also a popular rapper, Snoop Dogg, posted in his tweet encouraging his fans to watch out for Dogecoin.
Given celebrity attention, Dogecoin’s popularity has significantly increased. As it stands, Dogecoin is the 12th biggest cryptocurrency in terms of market capitalization. With a market cap of around $19.8 billion. Dogecoin also takes the 12th traded cryptocurrency in terms of trading volumes.
Bitcoin is the 2nd most searched cryptocurrency
Bitcoin (BTC), comes 2nd as the most searched cryptocurrency. Researchers from Coin insider uncovered that 10 states including Connecticut, Alaska, Mississippi, and New Hampshire have the highest search on Bitcoin in terms of search volumes.
It comes not as a surprise that Bitcoin is one of the most searched cryptocurrencies as it is the biggest in the market. Clearly, Bitcoin got so much attention as it offers an alternative asset option across the world.
3rd to 5th most searched cryptocurrencies
Ethereum (ETH) got 3rd place among the most searched cryptocurrencies in the United States. It got the highest searched volumes among the eight states including Georgia, Louisiana, Virginia, and Ohio. Ethereum is the second leading cryptocurrency and the leading altcoin in the market.
Next to Ethereum is Dogecoin’s top meme-coin competitor Shiba Inu (SHIB), with 7 states having an interest in it. SHIB was just launched last August 2020 and swiftly rose in terms of trading volume being the 15th most traded token in the market. Technology players and innovators in the States including New York and California are among those who searched SHIB.
Cardano (ADA) comes in as the 5th most searched cryptocurrency in the United States. Charles Hoskinson, a tech entrepreneur from Colorado who was well-known for his work in launching Ethereum, founded ADA. His influence in the crypto market paved the way for ADA to get the most searched cryptocurrency in Colorado.
We have seen the rise in popularity of cryptocurrencies recently. With more and more institutions and people having attention to them. There is no way to set aside this alternative asset class. It is also interesting to note that the most searched after cryptocurrency may not be the biggest or most valuable.