After Bitcoin, Dogecoin (DOGE) ranks second in global Google searches in 2023, boosted by Elon Musk’s support.
Elon Musk’s preferred cryptocurrency, Dogecoin (DOGE), is projected as the second most widely used alternative to Bitcoin in 2023, according to an analysis. Google searches conducted globally were used to generate the ranking.
In 2023, Dogecoin (DOGE) was the second-ranked cryptocurrency after Bitcoin
The most well-liked cryptocurrency alternatives to Bitcoin in 2023 were determined by a study done by cryptocurrency experts Marketplace Fairness.
Based on queries made by users directly on the Google search engine throughout the current year, this popularity was determined.
Because of this, it currently looks that Ethereum, with 3,260,000 monthly searches, is in first place on the podium. However, Dogecoin came in second position with 1,659,000 monthly searches while Ripple came in third with roughly 1,250,000 monthly searches.
Looking merely at the podium, it is already reasonable to conclude that Dogecoin, the preferred cryptocurrency of tycoon Elon Musk, is also the most widely used memecoin in the world as of 2023.
With over 678,000 searches worldwide, Shiba Inu, which is in fourth position behind it, overtakes it to become this year’s second most popular memecoin.
Cardano, with its 677,000 monthly Google searches, completes the top five.
Elon Musk’s involvement in the cryptocurrency project and Dogecoin (DOGE)
Elon Musk’s relationship with Dogecoin appeared to be exclusively personal up until this past September. The CEO of Tesla and SpaceX, who also owns X (formerly Twitter), is a dog lover and has always made jokes and memes in support of DOGE.
Someone has however disclosed that this crypto-influencer’s enthusiasm for DOGE may actually be due to his financial investment in the venture.
In essence, it seems that author Walter Isaacson disclosed in the new biography of Elon Musk that Musk covertly funded the creation of Dogecoin.
Whether it’s a scoop or not, Musk will be involved with DOGE. Indeed, Musk has said that Twitter serves as a welcoming environment for Dogecoin, where the cryptographic canine can amble freely amid various user postings and threads.
In the previous month, DOGE’s price fell 17.40%
Looking at the DOGE monthly price data, it appears that the memecoin has lost market share, going from $0.07423 to the current $0.06141, a decline of 17.40%.
With a market cap of $8.66 billion and a 24-hour transaction volume of about $174 million, DOGE is still the seventh most valuable cryptocurrency.
Similar to Bitcoin (BTC) and the other major crypto assets on the market, DOGE’s monthly bear market trend is bearish.
And in fact, BTC and the rest of the crypto market did fall the price support level on August 16, 2023. From $29,000 to $26,000, bitcoin decreased.
Even the second memecoin “Dogecoin Killer,” Shiba Inu (SHIB), ranked 17th, suffered a price drop from 30 days prior, even though it is a -30% drop.
