Grayscale Investments published a report which revealed exciting information about Dogecoin’s popularity. The report says that investors think Dogecoin is more popular than Ethereum. Dogecoin became famous earlier this year after incredible bullish runs. While altcoins work hard to upturn the popularity scale, they lag behind Bitcoin in value, popularity, and widespread importance as a store of value.
Respondents Were Categorized
Respondents who voiced their opinion in the widespread survey feature a broad demographic. The respondents are youths and adults. Apart from age being a critical variable, the study adjudged other values and characteristics such as income and investment. For the age variable, respondents ranged from 25-64 year-olds. The survey targeted 1000 investors in the United States.
The respondents who answered the questionnaire were primary decision-makers in their households. Others that were not primary decision-makers, we’re in one capacity, and the other share financial responsibility in the house. The benchmark for household income for the study was pegged at $10000-$50000.
Bitcoin Is The Most Popular Digital Asset
Another report conducted by Grayscale focused on Bitcoin. The report targeted respondents who had at a point transacted Bitcoin. The report was titled Grayscale Bitcoin Investor Study 2021. People felt that Bitcoin was the most popular digital asset. The report specifically wanted to test the widespread notion of Bitcoin’s popularity. The statement about Dogecoin’s popularity shows the awareness of other digital assets or alternate coins in public.
People were paying attention to the news, especially with crypto trends. And it appears that Dogecoin and Ethereum are leading the logs as alternative investment vehicles in crypto. The report revealed a sizable chunk of the respondents say they know them. However, investors favor the joke coin over Ethereum for no particular reason.
Dogecoin Is The Populous Altcoin
Seventy-four percent of the respondents know about Dogecoin, the joke coin. Only fifty-six percent know Ethereum. The former is more popular than the latter. One-third of the respondents had bought or sold Bitcoin. Some of them have moved into other alternative currencies.
The respondents who were surveyed held more Ethereum assets than Dogecoin. Forty-six percent of the respondents held Ethereum assets, while forty-four percent held Dogecoin crypto.
Meme coins and joke coins had shaken the crypto market this year. These digital assets, such as Shiba Inu, Wakanda inu, and the joke coin, Dogecoin, pulled massive numbers on the charts. The bull run of Doge earlier in the year brought more than 15000% profits for investors. If anyone had a role in the insane numbers Doge pulled, it was Elon Musk, the CEO of Tesla.
Due to its price rally, AMC Theatres quickly adopted it as a payment option. This company was a cinema-type franchise in the U.S. They were not the only who adopted Doge seeing it’s potential the potential.
Newegg, an online electronics retailer, accepting payments from customers that had Dogecoin. Dogecoin used its string of successful runs to clinch the eleventh spot on CoinGecko.