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Dogecoin (CCC: DOGE-USD) is more popular with the general public than Bitcoin (CCC: BTC-USD) or Ethereum (CCC: ETH-USD). This is the result of a recent examination through The Advisor Coach, according to an article in Cryptoslate. Dogecoin and Shibu Inu (CCC: SHIB-USD) were the most searched tokens on Google in 30 states of the United States.
In addition, Dogecoin was the top searched on Google in 23 states, adding Florida, Illinois and Michigan, according to a Business Insider article that had access to The Advisor Coach’s study report.
This is ironic, as Dogecoin is only the tenth largest cryptocurrency with a market cost of $28. 6 billion, in contrast, Bitcoin is the largest crypto with a market cap of $1. 077 trillion and is worth around $58,000 consistent with the Bitcoin token compared to just 21. 4 cents per Dogecoin.
The fact is that other people do not forget the strange situation, they know that Dogecoin represents a dog-like crypto currency and that all this does not really make sense, in fact, some probably do not forget that Elon Musk was publicly tortured about it in a Saturday Night Live comic strip in May 2021. He even called it “agitation. “
It will have to have remained in the heads of many people, who see Dogecoin as a type of game of choice in crypto, which is already itself a game of choice in what its proponents call the “fiat” currency. that the government and the government can dictate the regulations of a currency.
On the contrary, cryptocurrencies are decentralized, where everyone is inside and outside democracy, in the maximum cases, and in this field, Dogecoin is even stranger, since it started as a joke.
And, by the way, it is not that Dogecoin is a major investment. Bitcoin has risen much higher than Dogecoin, through the definition of its much larger market capitalization. But it’s just a matter of: what have you been doing for me lately?
In contrast, Bitcoin ended last year at $29,374. So, with the current value of $57,000, that’s almost exactly double the value.
The fact is that other people are going to pay much more attention to an asset that increases 38 times in less than a year compared to an asset that only doubles. What Dogecoin has done for its followers in recent years is to particularly outperform Bitcoin. This may be due in large part to its enormous popularity, as well as its strange nature.
Dogecoin cryptography has fallen. In the last 3 months, it has fallen from 27 cents to 21. 4 cents, down 19. 3%.
So just as cryptocurrencies have risen nearly 38 times this year, it’s not out of the question that it could drop so dramatically. After all, if you had a profit of 30 times or even a third, wouldn’t you? start taking profit?
Yes, I would sell. And that’s probably a clever component of the explanation for why Dogecoin has gone down in recent months and there’s no way to know how long that profit-taking can last.
I suspect this may last until the end of the year. If other people think that the tax rates will pass next year, they will probably make ordinary profits this year.
At the time of publication, Mark R. Hake did not occupy any position (direct or indirect) in the values discussed in this article. The perspectives expressed in this article are those of the author, the subject of InvestorPlace’s publication Guidelines. com.
Mark Hake writes about non-public finance in mrhake. medium. com and leads the general return pricing consultant you can see here.
The Dogecoin publication is more popular than Bitcoin, but it will most likely continue to fall and make the first impression on InvestorPlace.