Dogecoin is the most popular cryptocurrency in the U.S based on the average number of monthly searches.
Thats according to Bacancy Technology, who shared a press release with CryptoSlate publicizing their research on Google cryptocurrency search data.
This contradicts the narrative that Dogecoin is falling out of favor with investors, as suggested by $DOGEs stagnant price action of late, and rival meme token Shiba Inu gaining ground in market cap ranking.
Dogecoin is the most searched cryptocurrency on Google
A strong weekend performance saw +60% gains for Shiba Inu at its peak. However, profit-taking on Sunday led to $SHIB giving up most of those gains to close yesterdays daily with a long top wick.
Nonetheless, a 19% swing to the upside today suggests buyers remain keen on Shiba Inu.
By contrast, Dogecoin is relatively flat and has been since September. Since the weekend, $DOGE gained 9%, to close Sunday above $0.26 resistance for the first time in seven weeks.
The $0.26 level has proved a challenging zone to crack, having been rejected at this level on several occasions since September 8.
Source: DOGEUSDT on TradingView.com
Despite $DOGEs lack of price buoyancy recently, a study by Bacancy Technology reveals Dogecoin is the most popular cryptocurrency in the U.S, as determined by Google searches.
Dogecoin brings in 7,000,000 searches a month on average. The next most popular is Bitcoin, with 4,700,000 searches per month. And Ethereum ranks third with 1,800,000 searches a month.
Somewhat surprisingly, considering its relatively recent launch (on August 1, 2020), Shiba Inu makes fourth place with 870,000 searches a month on average.
The full results for average monthly searches on Google are:
Dogecoin 7,000,000
Bitcoin 4,700,000
Ethereum 1,800,000
Shiba Inu 870,000
Cardano 704,000
Litecoin 339,000
Avalanche 297,000
Polygon 221,000
Cosmos 214,000
Uniswap 194,000
Commenting on the findings, Bacancy Technology attributed Dogecoin‘s popularity to the endorsement of high-profile figures, including Snoop Dogg and Mark Cuban. The firm also highlighted the rise in trading apps, such as Robin Hood, that have low barriers to entry and cater to users who aren’t necessarily trading specialists.
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