Dogecoin, the infamous cryptocurrency that was earlier supported by Tesla CEO Elon Musk, has emerged as the most Googled cryptocurrency in the US, according to an analysis of Google Trends data. The study, conducted by a financial research firm named The Advisor Coach, said that Dogecoin had the highest number of states wanting to invest in the crypto with a total of 23 states, including Illinois, Florida, Hawaii, and New Jersey. The study was done throughout the United States to establish the cryptocurrency people of each state want to invest in, based on searches.
According to The Advisor Coach’s study, Dogecoin averaged 7 million searches in October 2021. This, according to the report, exceeds the amount of interest in Bitcoin and Ether combined. The Advisor Coach report said that this popularity is partly because Tesla CEO Elon Musk has endorsed Dogecoin on multiple occasions. “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,” the firm said.
Bitcoin was the second most popular cryptocurrency with 10 states looking to invest in Bitcoin more than any other coin. This included Conneticut, Alaska, Mississippi, and New Hampshire. People from only eight states said that they wanted to invest in Ether more than any other crypto – these included Louisiana, Georgia, Ohio, and Virginia.
Ether was followed by Shiba Inu (SHIB) – a meme coin whose value has shot up 14,00,000 percent since its debut about 15 months ago – which came as the fourth most popular cryptocurrency with seven states including California, New York, Texas, and Nevada interested in investing.
Both Dogecoin and Shiba Inu coin are “meme coins” whose value has shot up so much that they have been in the top 10 cryptocurrencies in terms of market capitalisation.