Data from crypto tracking platform, ICO Analytics, show that Dogecoin was the most mentioned cryptocurrency on leading social media site, Twitter. According to the data, the meme coin had more mentions than even the more popular crypto king, Bitcoin.
In February it was inevitable… $Doge has flipped $BTC as the most discussed digital asset in Feb 2021. In the chart below you can find a share of mentions of each coin among top 150 by marketcap.$eth $ada $xrp $link $pols $bnb $dot $egld $ltc $cake $vet $trx $algo $nano $usdt pic.twitter.com/Zdav3WvA8p
— ICO Analytics (@ICO_Analytics) March 3, 2021
During this period, Dogecoin had 10.4% of all crypto-related mentions on the social media site. On the other hand, Bitcoin, the largest cryptocurrency by market cap, even upon breaking the $50,000 mark for the first time last month recorded only 10.1% of all mentions.
What makes the meme coin performance more notable is that Ethereum also hit the $2,000 mark for the first time too. And when one considers that the two largest crypto assets witnessed more investments by new institutional investors like Tesla, BNY Mellon and the rest, it shows that DOGE was actually more popular than they were during that period.
Musk and Other Endorsements Push Dogecoin forward
Dogecoin has been in the news in the crypto space majorly due to the attention being given to it by Elon Musk and the endorsements it garnered from other celebrities. Not only that, the coin also leveraged on its price surges and the rise of its market cap to over $6 billion as led to more investors for the asset.
Away from Twitter, the crypto asset was also quite famous on TikTok as the “Dogecoin Challenge” trended for a few days. News of its increased popularity is what has led its developers to work on releasing a new core that would lead to “faster sync speed” and it also played a part in Coinflip’s decision to support the asset across its ATMs in the United States.