📍 Austin, TX, USA. on 9th Jun 2022 at 00:00
3 mins read
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When it comes to popularity in the world of cryptocurrencies, one would do well to look past the market cap rankings on CoinMarketCap and CoinGecko. Bitcoin has had a good run since its inception in 2008 and has remained the cryptocurrency with the largest market cap, but when it comes to Google searches, Dogecoin rules the roost.
According to a survey conducted by Coin Insider, Dogecoin receives more searches in 23 states while bitcoin is searched for more often in only 10 states.
Ethereum receives more searches in eight states, Shiba Inu is searched more often in seven states, and Lithium and Cardano are more popular in only one state each.
Dogecoin (DOGE) was created in 2013 when its creators forked it from Litecoin. For much of its history, it was a novelty, appealing to a small group of enthusiasts until Tesla CEO Elon Musk tweeted that it was his favorite coin in 2019. Since then, DOGE has surged in value and at one time entered the top 10 cryptocurrencies by market cap. Today, it’s ranked 12th.
The first of the mem coins, DOGE started a trend that has led to the development of other meme coins. The second most popular meme coin on the market is Shiba Inu, ranked 15 in the market cap rankings.
Coin Insider analyzed data from Google Trends to determine that Dogecoin is the most popular cryptocurrency in 23 states. These include Illinois, Florida, Hawaii, and New Jersey.
Bitcoin is most popular in Connecticut, Alaska, Mississippi, Maine, New Hampshire, Mississippi, Arkansas, Kansas, West Virginia, and Idaho. Known as the pioneering cryptocurrency that started the revolution, bitcoin continues to lead the market year after year. However, there are some analysts who speculate that Ethereum will surpass bitcoin in popularity and become the leading cryptocurrency.
States with a strong interest in Ethereum include Georgia, Louisiana, Virginia, Vermont, Ohio, Indiana, Oklahoma, and Utah.
Ethereum has been the leading smart contracts blockchain since its founding in 2013, but newer blockchains such as Cardano and Solana have since launched to fill in for some of Ethereum’s weaknesses. Solana is a high-speed blockchain with a native token while Cardano uses peer-reviewed research methods with a proof-of-stake consensus mechanism. Ethereum developers claim that the blockchain will reduce its energy consumption by 99 percent after migrating to the proof-of-stake model and the blockchain will be more competitive.
Both Bitcoin and Ethereum are leading blockchains, but for different reasons. It will be a long time before either of them is unseated as the leaders of the market.
Shiba Inu was founded in August 2020 and has seen a quick rise in popularity since then. With the 15th largest market cap of nearly 10,000 cryptocurrencies tracked by CoinMarketCap, it’s the second most popular meme coin. It is the most searched cryptocurrency in California, Texas, New York, Nevada, Washington, Wyoming, and North Carolina.
Lithium is a little-known cryptocurrency issued by Lithium Finance as a decentralized finance protocol. It’s most popular in the state of Pennsylvania.
Colorado is the state with the most searches for Cardano, a cryptocurrency founded in 2015 and launched in 2017 by Ethereum Co-Founder Charles Hoskinson. Since its launch, Cardano has seen a steady rise in value and popularity and now has the ninth highest market cap among all cryptocurrencies.
Considered a third-generation blockchain, Cardano is a cryptocurrency to keep your eye on.