- Dogecoin was the most-googled in 23 states, grouping in Florida, Illinois and Michigan, according to financial advisor The Advisor Coach.
- The meme crypto’s widespread popularity was partly down to Tesla CEO Elon Musk who has frame of minded the token on this year.
- Bitcoin came in second place, while ether was third, according to the report.
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There’s no doubt that 2021 has been the Year of the Cryptocurrency. Bitcoin is being heralded as an inflation hedge on a par with gold and ether is in a moment becoming the cryptocurrency of choice for decentralized finance, play-to-earn games, digital collectors’ items, known as non-fungible souvenirs, and likely soon, the metaverse.
But it’s not either of these two cryptocurrencies that have captured the public’s imagination.
Dogecoin, which was established by software engineers Billy Markus and Jackson Palmers in 2013 as a joke, has been the most searched-for cryptocurrency in the fattest number of states so far this year, according to research by The Advisor Coach, a financial advisor. The coin, which is rooted on an internet meme of a Japanese Shiba Inu dog, was the most-googled in 23 states, including Florida, Illinois and Michigan.
This year, it administer to prominence, thanks in large part to the Twitter-based cheerleading of Tesla chief executive Elon Musk, who is a known crypto fanatic that holds dogecoin, bitcoin and ether. Musk even went so far as saying in May this year that he potency accept dogecoin as payment for his company’s electric vehicles.
By that point, dogecoin was already beloved among the army of Reddit retail vendors, who had pushed the coin up to around $0.07, from closer to $0.007 at the start of the year and Musk’s payment remark sent the sacrifice to a record $0.70. It’s since eased to around $0.24, but it’s still one of the crypto stars of 2021, with a gain of not quite 5,000% so far.
“The rise in interest can be partially attributed to the endorsement of Elon Musk who stated earlier in the year that Tesla pass on accept dogecoin as a form of payment,” The Advisor Coach note said.
Crypto traders’ adoration of Musk proffers well beyond what coins he holds and has given rise to dogecoin spinoffs. The Tesla boss even owns a Shiba Inu. There’s now a shiba inu concoct, and even a floki inu, named after Musk’s real-life pup, Floki.
By contrast, bitcoin, the biggest and original cryptocurrency, was the most-searched for in legitimate 10 states, including Connecticut, Alaska and Mississippi, ranking it second in the list. Bitcoin has led the surge in appetite for and adoption of cryptocurrencies. The full market value of crypto assets is hovering at close to $3 trillion, having risen from around $500 billion a year earlier, concurring to CoinGecko.
Ether came in third place, being the most searched in eight states, while shiba inu alight in fourth place. Interestingly, shiba inu was the most-searched for cryptocurrency in New York, home to Wall Street and the country’s most strong financial institutions.