RIYADH: Dogecoin has overtaken Bitcoin in popularity in the US as it is the most searched cryptocurrency in the country’s 23 states, according to a research.
The research was conducted by the financial adviser The Advisor Coach to establish the cryptocurrency that each state wants to invest in based on searches.
Analysis of the Google Trends data revealed that Dogecoin had the highest number of states wanting to invest in the cryptocoin with a total of 23 states, including Illinois, Florida, Hawaii and New Jersey. The rise in interest can be partially attributed to the endorsement of Elon Musk who stated earlier in the year that Tesla would accept Dogecoin as a form of payment.
The research was conducted by the financial adviser The Advisor Coach to establish the cryptocurrency that each state wants to invest in based on searches.
Bitcoin was the second most popular with 10 states searching to invest in Bitcoin more than any other cryptocurrency, including Connecticut, Alaska, Mississippi, and New Hampshire.
A total of eight states want to invest in Ethereum the most, the third highest number in the research. States seeking to invest in Ethereum the most include Georgia, Louisiana, Virginia and Ohio.
Shiba Inu debuted 15 months ago and has grown astronomically, rising more than 14,000,000 percent. This leads it to be seven US states’ most searched for cryptocurrency to invest in, with states including California, New York, Texas and Nevada.
Lithium was the most popular cryptocurrency in one state — Pennsylvania. Cardano was also the most popular cryptocurrency in only one state — Colorado.