Dogecoin Is Losing The Interest Of Americans: What You Should Know

April 21, 2021 11:48 pm
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Dogecoin Is Losing The Interest Of Americans: What You Should Know

The “interest over time” in Dogecoin (DOGE) is waning, according to Google Trends, a search trends feature that measures how frequently a given search term is entered into the search engine run by Alphabet Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) subsidiary Google.

What Happened: An interest-over-time value of 100 is an indicator of peak popularity for a term, while 50 means the term is half as popular and zero means there is not enough data for the given term.

On Apr. 15, Bitcoin (BTC), DOGE, and Ethereum (ETH) had values of 11, 11, and three, respectively, which means both DOGE and BTC had a similar interest over time in the United States.

See Also: Will Tesla, Bitcoin Or Dogecoin Grow More By 2022?

By the next day, interest over time in DOGE had touched 100, while BTC and ETH were at 16 and 3 respectively.

Google Trends. Blue: Dogecoin, Red: Bitcoin, Yellow: Ethereum

As of Wednesday night, interest over time in DOGE has fallen to 12, while BTC and ETH are at 10 and 2.

Interest over time in DOGE has been waning and falling to levels similar to BTC, while ETH has enjoyed the same amount throughout the period ranging from Apr. 15 to Apr 21.

Why It Matters: Over the past one week, interest in Dogecoin had dominated the United States, whereas Bitcoin remained popular elsewhere in the world, according to a Tweet from Google Trends.

The interest over time in DOGE seems to have peaked before the so-called “Doge Day” which was marked on April 20.

See Also: PooCoin Skyrockets 100% In 'Beyond Dogecoin' Rally, Because Why Not?

On Doge Day, interest over time in DOGE stood at 41 while BTC and ETH values were 14 and three.

Doge Day adherents had hoped to push the price of DOGE to $0.69 or $1 levels but failed in their endeavors.

The 6,093.65% year-to-date gains in DOGE have overshadowed the 80.88% and 216.48% gains seen in BTC and ETH in the same period.

DOGE traded 2.44% lower at $0.30, while BTC traded 3.91% lower at $53,737.01 and ETH traded 4.37% higher at $2,410.85 in a 24-hour period preceding press time.

See also: How to Buy Dogecoin (DOGE)

Price Action: Alphabet Class A and C shares closed Wednesday’s regular session mostly unchanged at $2,278.35 and 2,293.29 respectively. The Class A and C shares fell 0.19% and 0.14% in after-hours trading.

Read Next: Dogecoin To List On OKCoin Next Week In A 'Testament' To Meme Crypto's 'Legitimacy'

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