If someone told you a year ago that a meme coin, practically a shitcoin, could be the most popular cryptocurrency that is in competition ether, you’d think it’s only possible in a crazy world. Well, the crypto ecosystem is not lacking in insanity and takes everyone, including the Dogecoin Creator surprised.
In one recently A poll of registered US voters found that 33% of Americans have heard of Dogecoin. The joke coin was second in terms of notoriety or popularity, ahead of the royal coin, Bitcoin. Ethereum, the largest altcoin by market cap, was in distant third place with 13% of the vote, followed by Litecoin with 8%, tether by 4% and Binance coin (BNB) At 4%.
The data analytics firm shared a tweet saying three out of four voters have heard of Bitcoin and a third of voters have heard of Dogecoin. Surprisingly, PR around the Ripple-SEC case couldn’t build XRP’s fame like the tech tycoon Elon Musk and Dogearmy for Dogecoin. XRP was 30% behind Doge in terms of popularity.
Likewise, some of the top 10 like alts Cardano and Speckle had 2% and 3% popularity respectively. Cardano, the fifth-placed coin on CoinMarketCap with a market capitalization of 3.04%, was ranked alongside Safemoon, which isn’t even in the top 200 coins.
New updates on how voters view cryptocurrency from our June Verified Voter Omnibus: https://t.co/Aid0bCYziz pic.twitter.com/HfZoyFVMoq
– Echelon Insights (@EchelonInsights) June 25, 2021
Dog fever still high?
Doge fever is still high for many Doge fans, but the market tells a different story. The joke coin enjoyed incessant coverage in the month of April-May, which was accompanied by the coin’s massive rallies, fueled largely by Musk’s tweets.
The search query for “dogecoin” on Google Trends (GT) was at an ATH of 100 from May 2nd to 8th at the time of Musk’s SNL appearance. Since then it has fallen by almost 77%.
However, it appears that the Americans have taken a liking to the coin. A recent survey by Binance US found that 69% of Americans wanted to get paid in Doge. This was announced by Doge developer Billy Markus. He recently announced on Twitter that he had bought into DOGE “after 8 years of vowing never to buy digital assets again”.
– Shibetoshi Nakamoto (@ BillyM2k) June 25, 2021
Dogecoin was trading at $ 0.20 at press time, and lost 65.74% from its ATH in May. The Alt has seen sizeable declines since then, posting a 7-day drop of 18.21% and a 24-hour drop of 5.58%. Musks last attempts even when pumping the alt are in vain.
While the social volume for Doge was high compared to Ethereum in May, recent data showed that the social volume for both Alts was almost similar. Additionally, the occasional high social volume for Doge after the May 8th SNL stunt didn’t do much for its price.
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