A recent study has confirmed that meme cryptocurrencies are still very much popular, demonstrated by their position among the digital assets most searched for online in the United States.
According to the analysis of Google Trends data conducted by crypto experts at Coin Insider, the dog meme coin Dogecoin (DOGE) is the most searched-for token in 23 states, including Illinois, Hawaii, New Jersey, and Florida.
Meanwhile, fellow meme cryptocurrency Shiba Inu (SHIB) ranks in fourth place, as users in seven states searched for it the most, including New York, Texas, California, and Nevada.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, was the second most searched cryptocurrency. Specifically, users in ten states were turning to Google to learn how to invest in the flagship digital asset.
Elsewhere, Ethereum (ETH), with users in eight U.S. states looking for information about investing in it, ranked the third most Googled digital currency in the U.S., while Cardano (ADA) and Lithium Coin (LITH) were each the most popular search terms in only one state, respectively.
A Coin Insider spokesperson commented on the findings, saying that:
“This study offers incredible insight into where these investments are coming from across the US, with Dogecoin surpassing Bitcoin as the most popular cryptocurrency on the internet. With more than 6,500 cryptocurrencies available globally, it is fascinating to see currencies that may not be the most valuable are still the most sought after.”
The hype around meme coins
It’s worth noting that Finbold reported in November on the dominance of both Dogecoin and SHIB in 30 U.S. states – Dogecoin in 23 and SHIB in seven. Considering the latest data, the situation has remained largely the same in terms of their popularity over the months.
The analysis illustrates the effect of the hype around the popular meme coins as they come into the spotlight and push out historical cryptocurrencies like Bitcoin and Ethereum that have been prominent in the space for years.
That said, both Bitcoin and Ethereum are currently ranking higher than DOGE and SHIB, indicating that the interest in such digital assets is still very high. On top of that, the value of Bitcoin and Ethereum is also very strong, at press time trading at $46,665 and $3,523, respectively.
Currently, the price of Dogecoin currently stands at around $0.15, up 5.14% in 24 hours and 3.34% across the week, after its major supporter Elon Musk recently became the largest Twitter shareholder.
SHIB is now changing hands at $0.00002665, up 0.61% in the previous 24 hours and down 3.36% compared to seven days ago, as per CoinMarketCap data.