In the US, many more people searched the Google platform for information about Dogecoin than about Bitcoin. Even the second dog cryptocurrency Shiba Inu is in 4th place. Does Dogecoin have potential at all?
Dogecoin is about twice as much searched on Google this year as BTC. The cryptocurrency ETH finished in 3rd place and right behind it is another dog coin Shiba Inu. This phenomenon of dog coins has dominated practically the entire Internet. We recently reported that Shiba Inu is an even more profitable cryptocurrency than BTC. Dog cryptocurrencies did not only rank in the stock market, but also Google trends.
Does Dogecoin have a future?
It is difficult to say whether this growing trend will continue. If these cryptocurrencies make sense to people, they certainly have potential. So far, however, it only looks like a seasonal hype, which we have experienced at least 3 times in cryptocurrencies in the last 6 years. For example ICO mania or DeFi bubble.
Similar meme projects at that time also made a 10,000% appreciation per month and now they are not even known to exist. Therefore, risking your capital into projects that are built only on the meme of the world and do not solve the real problems of people, such as ETH, can be a very big risk.