Dogecoin’s widespread popularity is not surprising. Billy Markus, who is the co-founder, owes the coin’s increasing popularity to Elon Musk’s relentless endorsements. The Tesla billionaire has been cheering the meme token since the beginning of the year, and is partly the reason for the crypto’s current value.
According to a research conducted by The Advisor Coach, the meme coin, based on a Japanese Shiba Inu dog, was the most searched cryptocurrency on Google, topping favorites, such as Bitcoin and Ether. The crypto was the most googled in as many as 23 states in the United States, including Florida, Illinois, Michigan.
Dogecoin Shot to Prominence Due to Musk’s Payment Comment
One might argue that the meme coin was already gathering momentum before Musk’s endorsements. The coin was beloved amongst Reddit retail traders, who had started discussing the crypto early this year. Then, the value of the crypto was $0.07.
At $0.07, it was looking like a long shot before the crypto hit $0.1, but that’s where Elon Musk came in. His payment remark about his company considering accepting Dogecoin payments for Tesla vehicles shot the price of the coin to a record price of $0.7.
Although the price has eased to somewhat $0.24, the cryptocurrency is still one of the crypto revelations of 2021. This year alone, the coin has gained over 5,000% and is still counting.
Musk, a prominent crypto enthusiast, also owns bitcoin and ether, but the Tesla chief prefers the DOGE over the two popular assets. The billionaire’s cheerleading Twitter comments have played a huge role in the coin’s adoption and how the world perceives the meme coin.
The Advisor Coach confirms that the growing adoption of the meme coin and the rise in interest can be partly attributed to Musk’s endorsements. Musk has found favor in the eyes of many crypto traders, and this has given rise to DOGE spinoffs.
Shiba Inu, Shiba Inu coin, and Floki Inu have all emerged due to Musk’s involvement in cryptocurrency. Musks even hold a Shiba Inu, and Floki Inu was named after his real-life puppy, Floki.
Bitcoin Ranks Second, Ether Third in Google Searches
Bitcoin, the first ever minted digital currency, popularized cryptocurrencies and has led the charge in crypto adoption. However, it was found surprisingly in the number two spot of most searched crypto in the United States.
The flagship cryptocurrency was the second most searched on Google in ten states, including Alaska and Connecticut. Ether followed suit with Google searches in eight states.
Another surprising entry is Shiba Inu. The Dogecoin rival was the fourth most searched crypto in the United States and the most searched in the financial hub New York.
Last week, analytical site CoinMarketCap, revealed that Dogecoin was the favorite store of value for U.S. citizens. This tallies with the report by The Advisor Coach on most googled cryptocurrencies in the country.
DOGE is becoming accepted as a means of payment in many industries and businesses. Cinematic chain AMC and NBA team Dallas Mavericks, have added support for the crypto.