By Lucas Williams
Cryptocurrencies as a whole have seen an incredible uptick in terms of their usage. Almost every cryptocurrency has seen prices rise by a considerable amount in a very short span of time. And since its rise to fame, companies and even countries have started to warm up to cryptocurrencies as a whole.
Most companies almost instantly jumped onto the bandwagon of cryptocurrencies. Since there were so many people who were buying cryptocurrencies, it only made sense for someone to use it as a regular currency. But even though companies were quick to join in, countries still took their time.
It took almost half a decade for the first country to finally accept cryptocurrencies. That country was El Salvador, and the crypto that they accepted was Bitcoin. But even though Bitcoin was easily the poster child of the market, none were quite as hyped as Dogecoin.
Dogecoin was the meme cryptocurrency that was initially made to make fun of the crypto craze of the early years. But after almost ten years in the market, it is one of the biggest cryptocurrencies in the market according to market value. In fact, Dogecoin is so big that a new survey found that one-third of all investors in the US had invested some money into Dogecoin.
The survey by Finder also showed that Dogecoin adoption in the US was twice as high as the rest of the world. In fact, Dogecoin adoption in the US stands toe-to-toe with cryptocurrencies like Ether and Bitcoin. The survey found that nearly 30% of all crypto owners in the country were holding on to Dogecoin.
The Survey also found that Cardano is very popular in Australia. Over there, most of the adult population that has invested in crypto was holding on to Cardano.
One of the reasons for this continued success of Dogecoin in the market is CEO of Tesla and spaceX, Elon Musk. Musk is one of the richest men in the world, often switching places with Jeff Bezos. He has also been one of the most vocal supporters of Dogecoin, with each tweet that even mentioned Dogecoin saw the market going into frenzy. His association with the meme crypto has given him much of a cult-like status in the community, with many calling him the Dogefather.
Even recently, a tweet about his dog, Floki the Shiba Inu, sent the market into a riot. The community believed that Musk was sending them a signal for the next crypto craze, so people started to buy Shiba Inu. Various other cryptocurrencies that have taken inspiration from Dogecoin have also seen a lot of success come their way thanks to Musk.