Every week, Benzinga conducts a survey to collect the feeling about what traders are most excited about, interested in, or thinking about when managing and building their personal portfolios.
This week we asked over 1,000 visitors to Benzinga what cryptocurrencies they knew about and included a list of 14 different coins including the original cryptocurrency, Bitcoin BTC/USD.
Of the 1,000 responses, 926 visitors to Benzinga had heard of Bitcoin, while 419 visitors were familiar with Dogecoin DOGE/USDof which 374 have heard of Ethereum ETH/USD. Also, among the top cryptos listed were Litecoin LTC/USD with 175, Attached USDT/USD was 151, and XRP XRP/USD with 107.
Dogecoin is more popular than Ethereum…Really?
Yes, and the number of people who own Doge also exceeds Ethereum.
A survey published by Finder shows that 66.7% of cryptocurrency investors own Bitcoin, compared to 28.6% owning Dogecoin and 23.9% investing in Ethereum.
Popularized by Elon Musk in 2019, with continued endorsement through 2022, Dogecoin was originally created as a parody token in 2013 by Jackson Palmeran Adobe Product Marketing Manager, and Billy Marcusa software developer.
Musk played a key role in the price of Dogecoin peaking at $0.73 during the WallStreetBets stock craze that engulfed mainstream financial markets in January 2021 after it tweeted an image of a dog on the cover of a “Dogue” magazine.
“The Elon Effect” was exemplified by Musk on April 15 when he tweeted a second image of the well-known work “Dog Barking at the Moon” with the phrase “Doge Barking at the Moon.” The price of Dogecoin was instantly affected, rising 260% in four days to a new high at the time of $0.45.
So how did Dogecoin become so well known? In summary, it seems that community, the project’s fun beginnings, and real-world usefulness were the main factors in the Shiba Inu-themed token’s meteoric rise. in the cryptocurrency market.