The price of Dogecoin (DOGE) follows the general trend in the crypto market and only records sideways activity. Due to the holiday season, the trading volume across global markets decreased, leading to stagnation in the nascent sector.
As of this writing, Dogecoin trades at $0.074 with a 1% loss in the last 24 hours. In the previous seven days, DOGE has seen some small profits with a 5% gain. Other cryptocurrencies in the top ten by market cap are similarly performing.
Dogecoin Shares Spot With Bitcoin And Shiba Inu As Most Popular Cryptocurrencies
Per a report from DollarGeek, cryptocurrencies remain some of the most searched digital financial assets of 2022. According to data from Google, cryptocurrencies total over 7 million monthly searches in the United States and over 40 million global searches.
Despite the persistent downside trend in its prices and unfavorable macroeconomic conditions, the digital asset class remained popular. The report claims. Bitcoin preserved its spot as the most popular cryptocurrency.
Over the past two years, several new sectors emerged from the crypto industry. However, people are still attracted to Bitcoin due to its decentralized nature. 2022 has been a year of declining trust in a central authority.
In this environment, people take more interest in alternatives, such as Bitcoin and other cryptocurrencies. The benchmark crypto recorded about 4,500,000 monthly searches in the U.S. and 28,400,000 global searches.
Further down the line of popular cryptocurrencies, Dogecoin and Shiba Inu took the number two and three positions. The meme coins continued to take over market share from other significant projects.
In the last months of 2022, Dogecoin and Shiba Inu claimed the previous positions in the crypto top 10 by market cap and often competed. In terms of Google searches, SHIBA and DOGE showed mixed results.
According to the report, the meme coin recorded around 1,290,000 monthly searches in the U.S., but in terms of global monthly searches, Dogecoin took the crown. This cryptocurrency recorded around 6,000,000 monthly searches compared to the 4,400,000 million from SHIBA.
DOGE To See Further Growth In Popularity
Per the report, the dominant trends in the crypto industry can be divided into meme coins, represented by Dogecoin and Shiba Inu, non-fungible tokens (NFTs), and innovative contract platforms, represented by Ethereum and Avalanche.
Finally, people took an interest in old cryptocurrencies revamping their ecosystem with new features, represented by Cardano and Litecoin. As seen in the chart below, Ethereum was the most popular in the group after DOGE and SHIB.
In this group, Dogecoin has a high chance of preserving its place on this ranking in 2023. The meme coin might see more utility if Elon Musk, owner of Twitter, integrates it with this platform.