According to a recent study analyzing Google Trends data, the cryptocurrency dogecoin’s search volume in the United States was highest in the most states as compared to other cryptos. The research also details that the leading crypto asset in terms of market capitalization, bitcoin, was the second most popular crypto asset, with ten different states.
Dogecoin Scores 23 States, While Bitcoin Commands 10
A recent study authored by Coin Insider combed through Google Trends data to find out which crypto asset was searched for by the most states. The research indicates that the meme-based cryptocurrency dogecoin (DOGE) is the most popular in the United States, at least according to Google Trends data. DOGE scored 23 states as Coin Insider’s data explains.
Dogecoin (DOGE) is currently the 12th largest crypto asset in terms of valuation as the crypto asset’s market cap is $19.8 billion. DOGE also holds the title as the top meme-coin asset out of the $36.4 billion worth of meme-based cryptocurrencies. Coin Insider’s metrics show dogecoin captured states like North Dakota, Montana, Illinois, Florida, Hawaii, New Mexico, New Jersey, and Oregon.
Meanwhile, bitcoin (BTC) scored ten states which include Idaho, Arkansas, Mississippi, Connecticut, Alaska, and New Hampshire. According to Google Trends (GT) data, the search term “bitcoin” in the U.S. currently has a score of 29 out of a top score of 100. The last time the search query for “bitcoin” hit a score of 100 was during the week of May 16-22, 2021.
Ethereum, Shiba Inu, Cardano Trail Behind
Ethereum (ETH) captured eight states which include Ohio, Virginia, Georgia, Indiana, and Louisiana. Behind ethereum’s heels in the study is shiba inu (SHIB), as the meme-based crypto asset collected a total of seven states in the country. After hitting 100 during the week of October 24-30, 2021, the search term “SHIB” now has a zero rating.
The smart contract token cardano (ADA) captured Colorado, according to Coin Insider’s findings. While ADA is up 40% during the last 30 days, year-to-date stats show cardano has only gained 2.6%. The search term “cardano” in the U.S. tapped a high of 100 during the week of May 9-15, 2021, according to GT metrics. This week, the search query for “cardano” currently has a GT score of 18.
Coin Insider’s research claims dogecoin’s popularity is partly due to Elon Musk’s endorsement of the meme-coin in recent times. “The rise in interest can be partially attributed to the endorsement of Elon Musk who stated in 2021 that Tesla would accept Dogecoin as a form of payment,” Coin Insider’s study says.
What’s your opinion of Coin Insider’s recent study? Do you agree with the study’s findings? Let us know what you think about this subject in the comments section below.
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