The recent social influencing of one cryptocurrency ahead of the other has become rampant these days. From Twitter CEO Jack Dorsey and Microstrategy Micheal Saylor endorsing Bitcoin To Elon Musk tweeting about Dogecoin, the noise-making is beginning to garner people’s interest. In a new report surfacing on the internet, Americans are starting to be more interested in Dogecoin ahead of other digital assets like Bitcoin. However, the factors propelling the sudden interest have been attributed to the growing number of prominent figures, celebrities, and top crypto influencers in the country talking about cryptocurrency.
Dogecoin tops google search in the U.S.
With a market capitalization of about $12 billion, the cryptocurrency is currently the tenth-ranked cryptocurrency in the world. The performance of the token this year cannot be undermined as it is currently outperforming several other altcoins. However, the report also states that the cryptocurrency is becoming the most searched crypto in the U.S, ahead of other high rankers like Bitcoin and Etrhereum.
The U.S is not the only place Dogecoin is gaining interest, as BuyCoins Africa, one of the top and foremost cryptocurrency exchange in Nigeria, has earlier reported that more Nigerians are starting to eye the digital assets, ahead of Bitcoin and Ethereum. Elon Musk has also continued to tweet about Dogecoin to his millions of followers on Twitter, a situation which had propelled prices of the coins a few weeks ago.
The Billionaire CEO had led a group of other celebrities to influence the altcoin, a move that has now seen the altcoins’ fortunes plummet in the past few weeks. Social influencing has continued to be a thing right now in the cryptocurrency space, as it is now drawing the attention of the uninitiated towards the tokens.
Social influencing continues to drive Dogecoin performance
Famous U.S rapper Snoop Dogg had also joined a list of public figures to endorse Dogecoin when he tagged Elon Musk to a tweet last Saturday on Twitter. The affluence of power brokers over any system can never be undermined, hence why the endorsement of Dogecoin is important to the altcoin.
After several of his viral tweet on Dogecoin, Elon Musk has told reporters that he is just making fun of the cryptocurrency created as a fun tool by its developers, and he affirmed not to have any investment in it. However, the millions of followers who read the tweets will not see it that way but will rather start learning about Dogecoin or even investing in it.
Barely 24hours after his first tweet, the fortunes of the altcoin changed drastically as it witnessed a price jump of about 200%. The cryptocurrency has since gained more than 500% in the last two weeks. However, what investors of the altcoin will be hoping for is the push on January 29th, which saw the altcoin’s price increase by more than 1,000% after it got famous investors’ attention on a Wall Street Bets group.