April 5, 2023

Google Searches for Dogecoin Spiked about 2000%

Google Searches for Dogecoin Spiked about 2000% Featured Image

A new analysis of Google search data revealed that searches for meme-inspired cryptocurrency Dogecoin ($DOGE) spiked about 2,000% over the past seven days following CEO of Twitter Elon Musk’s replacement of Twitter’s blue bird with the cryptocurrency’s logo. 

An analysis conducted by online casino guide 6Takarakuji found that searches for “buy Doge” and “buy Dogecoin” went up 1,044% and 253%, respectively. While the searches for rival cryptocurrency Shiba Inu ($SHIB) also increased by 132% following Twitter’s logo change, according to the Cryptoglobe website. 

On Tuesday, dogecoin spiked more than 30% after Twitter’s logo move.  The dogecoin price reached $0.1 at its peak, with a global trade volume hitting $1.22 billion in 24 hours. Musk tweeted a meme about the change that happened to Twitter’s logo. 

Earlier, the Twitter CEO asked a US federal judge to throw out a $258 billion lawsuit that accused him of running a pyramid scheme to support the cryptocurrency dogecoin, asserting that supporting dogecoin is not illegal. 

According to data from CoinMarketCap.com, dogecoin is the eighth-most valuable cryptocurrency, with a market cap of more than $13 billion.

This is not the first time that dogecoin is associated with Musk’s tweets and remarks. On November 1, the value of Dogecoin hiked to unprecedented levels, recording 14 cents following the CEO of SpaceX’s acquisition of Twitter worth $44 billion. 

Although Musk loves dogecoin, his company Tesla has not invested in the crypto coin yet, as it is investing in Bitcoin worth $218 million. It is worth mentioning that Tesla merchandise could be bought by Dogecoin starting this year. Also, Dogecoin is accepted as a payment for purchasing Musk’s newly launched perfume brand.

Dogecoin was created on December 6, 2013, based on the popular “Doge” Internet meme and features a Shiba Inu on its logo. It can be bought on centralized exchanges such as Binance, Coinbase, Crypto.com, Bitfinex, and more.

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