Dogecoinย (DOGE) Ranks Second as a Cryptocurrency Alternative to Bitcoinย (BTC) in 2023
A recent study conducted by digitalย currency specialists at Marketplace Fairness has revealed that Dogecoinย (DOGE) is the Second most trending alternative to Bitcoinย (BTC) in 2023. The ranking was determined based on the number of Google searches worldwide throughout the year.
According to the study, Ethereumย (ETH) takes first place with 3,260,000 monthly searches, followed by Dogecoinย (DOGE) with 1,659,000 monthly searches and Ripple with about 1,250,000 monthly searches. This makes Dogecoinย (DOGE) the most trending memecoin of 2023.
The fourth and fifth spots are occupied by Shibaย Inuย (SHIB) with approximately 678,000 searches and Cardanoย (ADA) with 677,000 monthly Google searches respectively.
Dogecoinย (DOGE) and Elon Muskโs Engagementย in the Cryptocurrency Project
Elon Muskโs affinity for Dogecoinย (DOGE) has been popular, with the billionaire frequently joking and creating memes about the digitalย currency. Nonetheless, it has recently been revealed that Musk may have a financial engagementย in the development of Dogecoin.
In his biography book about Musk, author Walter Isaacson disclosed that Musk quietly financed the development of Dogecoinย (DOGE). Musk himself has expressed his support for Dogecoinย (DOGE) on Twitter, stating that it is a friendly place for the digitalย currency to thrive between user posts and threads.
Dogecoinย (DOGE) Price Declines by 17.40% in the Past Month
Looking at the monthly price chart of DOGE, it is evident that the memecoin has experienced a decline of 17.40%, dropping from $0.07423 to its current value of $0.06141. Regardlessย of this, Dogecoinย (DOGE) remains the eighth largest digitalย currency by market capitalization.
DOGEโs price trend in the past 30ย days is similar to that of Bitcoinย (BTC) and other major digitalย currencies in the market. On August 16, 2023, Bitcoinย (BTC) and the rest of the market experienced a decrease in price levelย ofย support, with Bitcoinย (BTC) dropping from $29,000 to $26,000.
Even Shibaย Inuย , often referred to as the โ Dogecoinย (DOGE) Killer,โ has seen a price decline of -30% in the past 30ย days, ranking it 17th between cryptocurrencies.
Hot Take: Dogecoinย (DOGE) Maintains Its Popularity Regardlessย of Price Decline
Regardlessย of the recent decline in price, Dogecoinย (DOGE) continuesย toย sustain its popularity as one of the top alternative digitalย currencies to Bitcoin. Its strong presence on social media platforms and the support of influential figures like Elon Muskย (Teslaย &ย SpaceX CEO) have contributed to its widespread recognition.
Althoughย while market trends may impact itsย price in the short term, Dogecoinโs position as a memecoin and its dedicated community of supporters make it a unique player in the cryptocurrency space. Whether its popularity will translate into long-term success remains to be seen, but for now, Dogecoinย (DOGE) remains a prominent name in the world of cryptocurrencies.
Leo Nomist emerges as a maestro harmonizing the roles of crypto analyst, tenacious researcher, and editorial virtuoso, creating an unparalleled symphony of insight. Amidst the intricate world of digital currencies, Leo’s perspectives resonate like finely tuned chords, capturing the attention of curious minds from diverse horizons. His talent for deciphering complex threads of crypto intricacies blends seamlessly with his editorial finesse, translating intricacy into a captivating composition of understanding.
