Survey Shows Turkey Is Obsessed With Crypto, Especially Dogecoin

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The entire crypto industry has been experiencing a winter since the last quarter of 2021. Some cryptocurrency prices have seen massive price drops, with many dropping by more than 65%. As bad as things may seem, crypto may not die out because its popularity has not waned.

A recent study by CryptoManiaks, a crypto education platform, shows that Turkey and the Netherlands rank first in cryptocurrency awareness. According to the survey, 5.5% and 8.2% of the population in Turkey and the Netherlands searched for terms related to crypto. Turkey accounted for 4.7 million searches, topping the charts with a large number.

Turkey has made huge strides in crypto adoption since the start of 2022. A 2022 research by Turkish crypto exchange Paribu estimated that at least 8 million people in Turkey engage in crypto . Turkish President Recep Tayyip Erdogan spoke about the benefits of blockchain innovations. In his statement, Erdogan added that Turkey wants to be a producer of digital assets, not a consumer.

DOGE outranks Ether in terms of user curiosity in Turkey

The latest CryptoManiaks study analyzed the number of searches for selected cryptocurrencies. They plotted the number of cryptocurrencies as a percentage of each country’s population to calculate monthly local searches.

Turkey ranked second in the overall study and first with 812,000 monthly searches related to Dogecoin. According to the survey, the number of searches for Dogecoin doubled that of Ethereum, the third most searched crypto in the country.

The CryptoManiaks spokesperson commented on the growing curiosity about Dogecoin over the past 12 months. He said Dogecoin’s popularity has far surpassed that of Ethereum, with nearly 2 million monthly searches worldwide.

DOGE became popular after Elon Musk revealed his intention to make it the official token for Twitter monetization. As a result, the price of memecoin hit an all-time high within a week of Elon Musk’s full official acquisition of the social media platform.

The survey was not just about DOGE and Ethereum. It also included Solana, BNB, Bitcoin and others. After Turkey and the Netherlands, Canada, Germany and the Czech Republic follow in the ranking.

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Although the UK and the US are the top global players in the cryptocurrency industry, neither has ranked among the best. Indeed, the number of searches is insignificant compared to the size of their population. For example, the US ranked 15th, with 1.9% of its population searching for crypto-related terms, while the UK took 12th place with 2.6%.

Recent research by Cointelegraph has also shown that the bear market is not affecting the interests of several institutions in the crypto industry. According to the report, major institutions are still interested in the cryptocurrency industry and continue to invest millions in crypto-related projects.

Featured image from Pixabay, graphic from TradingView.com

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