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Dogecoin, a star on social media
Dogecoin, a star on social media
Altcoin

Dogecoin, a star on social media

By Eleonora Spagnolo - 22 Mar 2021

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According to SentiFi, Dogecoin is the queen of social media this week. 

This is revealed in the usual weekly analysis in which DOGE exceeds the others.  

Dogecoin, which comes first with 46 points, is followed by Polkadot, Tron, Litecoin and Tether

Dogecoin’s first place certifies the popularity of the crypto born as a joke. This week, the high number of people talking about DOGE on social media was not “dragged” by Elon Musk, who has not tweeted about Dogecoin for a while. 

And perhaps this is also why the table shows a 14% drop in Dogecoin-related interactions. 

Polkadot remains an interesting project, scoring 36 points, even though DOT is also down. 

On the other hand, Tron, Litecoin and Tether, while ranking behind, show a gain of 3%, 10% and 20% respectively and all score 35 points.

Sentifi notes about Tether’s jump:

“Tether received the highest attention score amongst events discussed on social media, news and other online content, growing 20%”.

Dogecoin, a star on and off social media

In recent weeks, Cardano and Litecoin stood out. Both are being rewarded by users for the updates they are implementing. 

Cardano, with its latest Mary hard fork, has introduced the possibility of creating tokens on its blockchain, on its way to becoming a direct competitor to Ethereum. 

Litecoin is also being implemented to improve privacy, starting with the integration with the MimbleWimble protocol.

None of this can be seen in Dogecoin, the cryptocurrency created in 2013 as a parody of Bitcoin and used for tips on social media.

However, even in the wake of tweets from Elon Musk and other famous stars, and after the alleged pump from WallStreetBets, Dogecoin has grown in price as well as notoriety, so much so that it even briefly landed in the top 10 of the most highly capitalized cryptocurrencies.

It does appear to be inspiring confidence. Even an industry expert like Mark Cuban is predicting that the cryptocurrency could soon reach a record $1.

However, there is still a long way to go, considering that DOGE is currently worth just over 5 cents

Eleonora Spagnolo
Eleonora Spagnolo

Journalist passionate about the web and the digital world. She graduated with honours in Multimedia Publishing at the University La Sapienza in Rome and completed a master's degree in Web and Social Media Marketing.

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