Dogecoin eclipses Bitcoin as Google’s most sought-after crypto
For the first time in history, the “meme token” Dogecoin, overtakes Bitcoin as the main subject on Google’s search bar. The token went nowhere close to being the clown in the cryptocurrency industry as more people globally are searching for information regarding this token. It surprisingly outperforms the #1 most sought-after token, Bitcoin, according to internet research statistics.
Verbatimly, the data from Google Trends says values assigned to each cryptocurrency for May 2 — 8 stand at 56/100 points for DOGE , while 48/100 for BTC.
Tesla CEO Elon Musk’s hype is the main reason it suddenly exploded off the ground. Followed by numerous trends and hashtags on different social media platforms such as Twitter, Reddit and Facebook.
Not only that it is dominating the social media world but, DOGE coin actually skyrocketed 13,955.4% since the year began, leaving behind Bitcoin (BTC) and Ethereum (ETH) in terms of year-to-date gains. Come to think that BTC has risen 87.84%, while ETH goes upward by 342.75% since the year began.
In addition, its community celebrated Doge Day last April 20, 2021. The date itself is linked to the number 420, which is associated with the smoking of cannabis. With that, it was hailed as the most honest sh*tcoin by Galaxy Digital Research.
This could come off as a joke, but has “remarkably strong fundamentals and powerful forces to sustain its rise.”
Recently, the search interest in DOGE has reached the peaks and troughs of public interest. It shows not only a strong non-correlation but a higher level of interest in DOGE, other notable persons linking to it etc.
Nevertheless, high levels of public interest does not automatically guarantee good fortune in the markets. It will still depend on the coin, the team and its network.
It is worth noting, however, that risk and crypto have the same blood running on their system. Most crypto assets come with a host of risks, thus, on the brighter side, it also has the vast potential rewards.
A DOGE coin can be a good investment if you want to gain direct exposure to the demand for digital currency and the projects or businesses they facilitate.