An analysis reveals that Dogecoin (DOGE), Elon Musk’s favorite crypto, is ranked as the second most popular alternative to Bitcoin during 2023. The ranking was compiled based on worldwide Google searches.
Dogecoin (DOGE) ranked second as a crypto alternative to Bitcoin in 2023
A study conducted by cryptocurrency experts Marketplace Fairness, ranked the most popular crypto alternatives to Bitcoin in 2023.
This popularity was based on searches made by users around the world directly on the Google search engine, throughout the current year.
Hence, at the moment, it appears that in first place on the podium is Ethereum, with 3,260,000 monthly searches. Taking second and third place, however, were Dogecoin with 1,659,000 monthly searches and Ripple with about 1,250,000 monthly searches, respectively.
Looking only at the podium, it is already possible to say that Dogecoin, the favorite crypto of billionaire Elon Musk, also ranks first as the world’s most popular memecoin of 2023.
Following it in fourth place is Shiba Inu with about 678,000 searches worldwide, which also becomes the second most popular memecoin of this current year.
The top five is rounded out with Cardano and its 677,000 monthly Google searches.
Dogecoin (DOGE) and Elon Musk’s involvement in the crypto project
Until this September, Elon Musk’s involvement toward Dogecoin seemed to be entirely personal. A dog lover, the CEO of Tesla and SpaceX and also owner of X (formerly Twitter), has always joked and created memes favoring DOGE.
However, someone has revealed that this crypto-influencer’s love for DOGE may stem instead from his financial involvement in the project.
Basically, in the new Elon Musk biography book, it appears that author Walter Isaacson revealed that Musk quietly financed the development of Dogecoin.
Scoop or not, Musk’s involvement with DOGE is a given. In fact, Musk also recently stated that Twitter represents a friendly place for Dogecoin, where the cryptographic pooch could roam free among various user posts and threads.
DOGE price loses 17.40% in the past month
Looking at the monthly price chart of DOGE, it really seems that the memecoin has lost share by 17.40%, dropping from $0.07423 to the current $0.06141.
DOGE is still the eighth largest crypto by market capitalization, with a market cap of $8.66 billion and transaction volume in the past 24 hours of nearly $174 million.
The monthly bear market trend of DOGE is not much different from that of Bitcoin (BTC) and the other major crypto assets in the market.
And indeed, it was on 16 August 2023, when BTC and the rest of the crypto market lowered the price support level. Bitcoin dropped from $29,000 to $26,000.
Even the “Dogecoin Killer,” the second memecoin Shiba Inu (SHIB) ranked 17th, saw its price dump from 30 days ago, although it is -30%.
Source: https://en.cryptonomist.ch/2023/09/14/dogecoin-second-most-popular-bitcoin-alternative-crypto/