“Dogecoin” Is Most Wanted Crypto In More US States Than Bitcoin

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Dogecoin was the most searched on Google in 23 states, including Florida, Illinois and Michigan, according to financial adviser The Advisor Coach. The widespread popularity of the crypto meme was in part due to Tesla CEO Elon Musk, who applauded the token this year. Bitcoin came in second, while ether was third, according to the report. Sign up here for our daily newsletter, 10 things before the opening bell. Loading Something is loading.

There is no doubt that 2021 has been the year of cryptocurrency. Bitcoin is touted as a hedge against inflation just like gold and ether is quickly becoming the cryptocurrency of choice for decentralized finance, games to win, digital collectibles, known as non-fungible tokens, and probably soon, the Metaverse.

But it is neither of these two cryptocurrencies that have captured the imagination of the public.

Dogecoin, which was founded by software engineers Billy Markus and Jackson Palmers in 2013 as a joke, has been the most sought-after cryptocurrency in the most states so far this year, according to research from The Advisor Coach, a financial advisor. The piece, which is based on an internet meme of a Japanese dog Shiba Inu, was most searched on Google in 23 states, including Florida, Illinois and Michigan.

This year it has gained prominence, in large part thanks to the Twitter-based cheerleader of Tesla CEO Elon Musk, who is a crypto enthusiast who owns dogecoin, bitcoin, and gold. ether. Musk even went so far as to say in May of this year that he could accept dogecoin as a form of payment for his company’s electric vehicles.

At this point, dogecoin was already well-liked among the army of Reddit retail traders, who had pushed the coin to around $ 0.07, closer to $ 0.007 at the start of the year and the remark of Musk’s payment sent the price to a record $ 0.70. It has since been reduced to around $ 0.24, but it is still one of the crypto stars of 2021, gaining nearly 5,000% so far.

“The rise in interest can be partially attributed to the approval of Elon Musk who said earlier this year that Tesla would accept dogecoin as a form of payment,” the note from The Advisor Coach said.

The worship of Musk by crypto traders extends far beyond the coins he owns and has spawned dogecoin spinoffs. The boss of Tesla even owns a Shiba Inu. There is now a shiba inu coin, and even a floki inu, named after Musk’s real-life puppy, Floki.

In contrast, bitcoin, the largest and most original cryptocurrency, was the most sought after in just 10 states, including Connecticut, Alaska, and Mississippi, ranking it second on the list. Bitcoin has led to the rise and adoption of cryptocurrencies. The total market value of crypto assets hovers around $ 3 trillion, after increasing by around $ 500 billion a year earlier, according to CoinGecko.

Ether came in third, being the most wanted in eight states, while shiba inu landed in fourth place. Interestingly, shiba inu was the most sought-after cryptocurrency in New York City, home to Wall Street and the nation’s most powerful financial institutions.

The Advisor Coach google crypto research map

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