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Shiba Inu and Dogecoin have made notable gains this year. The two meme coins currently rank as top cryptocurrencies in the market and are also listed on leading exchange platforms.
The gains made by the two meme coins seem to have attracted the attention of American investors after they emerged to be the two most searched cryptocurrencies on Google in November.
Dogecoin emerges as the most-searched crypto on Google
A recent report from The Advisory Coach showed that Dogecoin has emerged as the most-searched cryptocurrency this year. Last month, searches related to the meme coin averaged at 7 million. This is higher than the number of searches regarding Bitcoin and Ethereum.
The findings of this study were expounded by Business Insider, which stated that the gains made by the meme coin could be attributed to the CEO of Tesla, Elon Musk. “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.”
Musk has been pushing for the evolvement of the meme coin from just deriving its value from hype to being a coin that can have real-world usage.
The recent report shows that Dogecoin was the most popular cryptocurrency in 23 US states. Some of the states where this coin was particularly popular include Florida, Hawaii, New Jersey and Arizona.
Shiba Inu fighting to be the Dogecoin killer
When Shiba Inu was launched, many in the market stated that it would be the Dogecoin killer. The meme coin lived up to this reputation in October when it surpassed Dogecoin’s market cap. While it has significantly retreated from its highs of $0.000086, it is still enjoying much popularity.
In terms of Google searches, Shiba Inu is not lagging behind because it has dominated in California, Nevada, New York, North Carolina, Washington and Wyoming. This is a significant gain, given that Bitcoin and Ethereum reign in 10 and 8 states, respectively.
Meme coins have made notable gains because of community support. Dogecoin, Shiba Inu and Floki Inu have made notable rallies because of the hype usually created on social media platforms.
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