Dogecoin (DOGE) is the leading search engine term among crypto enthusiasts in the US.
The meme coin started the year on a somewhat modest footing, worth only $0.007 when Reddit retail traders and the endorsement of Tesla boss Elon Musk briefly sent the value of the coin to $0.70.
It has dropped down to $0.24 as of the time of writing, but this has not quenched investors’ appetite for the coin.
A note by The Advisor Coach offered explained the popularity of DOGE. “The rise in interest can be partially attributed to the endorsement of Elon Musk who stated earlier in the year that Tesla would accept dogecoin as a form of payment.”
Bitcoin (BTC) is the top searched currency in Google in just ten states. All the rest seem to be swinging for DOGE.
Even with the currency dropping to $0.24 (which is still a 5,000% increase since the beginning of the year), the total market cap stands at $30bn as of the time of writing.
The total market capitalization for cryptocurrencies has reached $3 trillion in valuation, or up $500bn since the beginning of the year.
As DOGE remains the leading cryptocurrency among its “meme” peers, there have been many new ones to talk about. Floki and Shiba Inu are two particularly popular tokens that have not yet gained proper traction with big investors, but still might.
However, unlike DOGE, governments are taking slightly a more aggressive approach, issuing bans on Floki ads in public space, for example.
Shiba Inu marked a 17,300,000% increase in the past 15 months and the DeFi space has grown to $250bn total worth of assets.