The price of Dogecoin (DOGE) follows the general trend in the crypto market and only registers sideways activity. Due to the holiday season, trading volume in global markets declined, leading to stagnation in the nascent sector.

At the time of this writing, Dogecoin is trading at $0.074 with a 1% loss in the last 24 hours. Over the previous seven days, DOGE made a small profit with a gain of 5%. Other cryptocurrencies in the top ten by market capitalization are showing similar results.

The price of DOGE is trending down on the daily chart. A source: DOGEUSDT TradingView

Dogecoin shares place with Bitcoin and Shiba Inu as the most popular cryptocurrencies

Behind report According to DollarGeek, cryptocurrencies remain one of the most popular digital financial assets in 2022. According to Google, there are over 7 million searches per month about cryptocurrencies in the US and over 40 million searches worldwide.

Despite a steady downward trend in its prices and unfavorable macroeconomic conditions, the digital asset class has remained popular. The report is approved. Bitcoin has maintained its place as the most popular cryptocurrency.

Over the past two years, several new sectors have emerged in the crypto industry. However, people are still drawn to Bitcoin due to its decentralized nature. 2022 was a year of declining trust in the central government.

In this environment, people are more interested in alternatives like Bitcoin and other cryptocurrencies. The benchmark cryptocurrency recorded about 4,500,000 searches per month in the US and 28,400,000 searches worldwide.

Further in the line of popular cryptocurrencies, Dogecoin and Shiba Inu took second and third places. Meme-coins continued to win market share from other significant projects.

In the final months of 2022, Dogecoin and Shiba Inu held previous positions in the top 10 cryptocurrencies by market capitalization and often competed with each other. In terms of Google searches, SHIBA and DOGE had mixed results.

According to the report, the meme coin recorded around 1,290,000 monthly searches in the US, but in terms of global monthly searches, Dogecoin took the crown. This cryptocurrency registers about 6,000,000 requests per month compared to 4,400,000 million requests from SHIBA.

DOGE expects further growth in popularity

According to the report, the dominant trends in the crypto industry can be divided into meme coins represented by Dogecoin and Shiba Inu, non-fungible tokens (NFTs) and innovative contract platforms represented by Ethereum and Avalanche.

Finally, people have become interested in old cryptocurrencies updating their ecosystem with new features introduced by Cardano and Litecoin. As you can see from the chart below, Ethereum was the most popular in the group after DOGE and SHIB.

Dogecoin DOGE DOGEUSDT Chart 1
Source: Google via DollarGeek

In this group, Dogecoin has a high chance of maintaining its place in this ranking in 2023. The meme coin could become more useful if Elon Musk, owner of Twitter, integrates it with the platform.

LEAVE A REPLY

Please enter your comment!
Please enter your name here