Throughout its history, Bitcoin has repeatedly surpassed gold in terms of the number of searches on Google. Over the past week, however, significantly more interest from Google users has been Dogecoin, a meme cryptocurrency that has recently received widespread celebrity support.
According to Google Trends, Dogecoin was roughly four times more popular than Bitcoin on January 29th. Such dynamics can be traced in the United States and in the whole world, however, Russian users remain loyal to Bitcoin. Affected by the passage of events in the English-speaking segments of social networks.
SpaceX and Tesla founder Elon Musk, who was recently named “Dogecoin PR manager” by Binance CEO Changpeng Zhao, has long been helping to attract attention to cryptocurrency. Musk has written many times about Dogecoin in the past, calling it “pretty cool” and “folk crypt”. However, it was only after the market rallied to new highs that Musk’s appeals, which he himself calls a joke, were noticed by other celebrities.
Earlier this week, rock musician Gene Simmons of the founding members of Kiss wrote:
“I don’t make any recommendation, but I did buy Dogecoin, XRP and other digital assets. Draw your own conclusions. ” Simmons announced yesterday that he “bought even more Doge.” “Why? Because I believe that it will grow. But that’s just me, ”he added. Simmons’ Twitter feed is now almost entirely Doge-themed memes and Dogecoin articles.
Snoop Dogg joined them Saturday night, posting a themed image on Twitter mentioning Musk’s account. The musician’s own pseudonym is combined with the name of the meme, and the result is “Snoop Doge”.
Musk, in turn, continued the idea of the image he started on Thursday. In the latest version, there are three Dogecoin supporters at once.
Dogecoin course information is now also placed right under the header of the popular crypto-tracking site CoinMarketCap, showing what kind of asset its visitors are interested in.
Over the past day, the Dogecoin rate has risen by 18% again. At the same time, it became the third cryptocurrency in terms of liquidation volume after Bitcoin and Ethereum. What is noteworthy, despite the upward movement, most of the liquidated users held long positions. In other words, even after choosing the right course direction, they tried to keep up with the movement with too high a leverage and became victims of market volatility.
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