For years now, Bitcoin (BTC) has been a dominant coin in almost every way. Sure, its network is not the most scalable or cheap, but it was always the coin with the highest price, the largest market cap, and, as the face of the crypto industry, it also dominated Google searches.
This changed recently, as the global interest shifted from Bitcoin to Dogecoin (DOGE), the joke coin launched in 2013, which was based on a popular meme at the time, and whose lifespan was expected to be a few months, at best.
Dogecoin’s dramatic 2021
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The story of DOGE is well-known by now, as the coin survived years and years near the top of the crypto industry, against all odds. DOGE pulled this off by somehow becoming a favorite, lighthearted cryptocurrency of the entire industry. However, with Elon Musk’s support and a campaign that cleverly used certain high-profile events from earlier this year, DOGE started riding a wave that brought it not only to the top 10 largest coins list but also to the top of Google searches, as far as crypto is concerned.
Google Trends data shows that Dogecoin searches have managed to score 100 points, as opposed to Bitcoin’s 14 on May 9th. The period that was looked into was May 3-10, and the rise of DOGE searches possibly has something to do with Elon Musk’s appearance on Saturday Night Live, which took place on March 8th. Many were even betting on whether or not Musk is going to reference cryptos in his speech, and if so, which coin it will be.
As it turned out, he did mention DOGE at the very end of his monologue, and while DOGE price did briefly drop after the speech due to it being oversold by its holders, it quickly managed to reclaim its price as the rise in interest and awareness brought the buyers back. But, DOGE’s entire 2021 has been quite dramatic, with massive searches, purchases, mentions, and more, so volatility is hardly surprising.