SHIB and DOGE were the most searched coins on Google USA this November as Americans find them the most interesting coins despite bitcoin being the largest crypto by market cap so let’s read more in our latest altcoin news today.
Whoever thinks that meme coins are useless should have to revise their expectations. A recent study shows that in the United States, people are getting even more interested in dog-themed meme coins like SHIB and DOGE rather than other serious financial projects that claim to be the next financial revolution. Although Bitcoin and Ether occupy more than 60% of the total market cap of all crypto assets, SHIB And DOGE were the most searched coins in November in the US as they won the hearts of Americans.
According to the study by research firm The Advisor Coach covered by Business Insider, there’s an average of 7 million searches for content about DOGE in November which exceeds the averages for BTC and Ethereum combined. As per Business Insider, this spike could be connected to the Dogfather’s influence:
“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.”
Although the popular financial publication the Motley Fool portrays Doge as a “hyped token” with no real-world utility, it seems that things are changing with a series of capital investments and Musk’s interest in Improving DOGE’s code to adapt it to a global usability standard. Dogecoin is the most popular currency in 23 American states like New Jersey, Hawaii, Florida, and Arizona. The US is also the country with the most overall searches for Dogecoin second only to Turkey. Shiba Inu is not really behind. The DOGE spin-off dominates searches in California, Nevada, Wyoming, Texas, North Carolina. The market for meme coins emerged as a sort of social phenomenon during the coronavirus pandemic and crypto-assets like Shiba Inu, Doge, and FLoki Inu benefited from the pumps on social media despite not having strong fundamentals. Dogecoin and Shiba grew so much that they conquered a spot in the top 10 crypto assets with a bigger market cap and now DOGE is in the 10th spot while Shiba is in the 12th.
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