Dogecoin takes center stage in the crypto world: 4.7 million searches in Turkey
Dogecoin takes center stage in the crypto world: 4.7 million searches in Turkey
Crypto

Dogecoin takes center stage in the crypto world: 4.7 million searches in Turkey

By Alessia Pannone - 9 Dec 2022

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Dogecoin, one of the most prominent cryptos that exploded thanks to Elon Musk, appears to be at the top of Turkey’s searches. In general, Turkey seems to be obsessed with cryptocurrencies, turning out to be in second place for global crypto searches.

CryptoManiaks’ study: curiosity about Dogecoin 

The collapse of the cryptocurrency market, although it has brought significant damage to the entire blockchain world, does not mean that interest in cryptocurrencies is also declining. A new study by the cryptocurrency education platform CryptoManiaks revealed that many countries are still scouring the Internet, hungry for cryptocurrency-related information.

According to the study, The Netherlands and Turkey occupy the top two spots, with 8.2 percent and 5.5 percent of the population searching for cryptocurrency-related terms, respectively. Turkey, in particular, accounted for 4.7 million searches, leading them with pure numbers.

Specifically, the study analyzed the combined number of searches for a selected set of popular cryptocurrencies across a percentage of the population for each country to calculate the percentage of locals searching each month.

And according to CryptoManiaks’ findings, curiosity has skyrocketed for Dogecoin, particularly over the past twelve months. In fact, according to the platform, Dogecoin’s popularity has surpassed Ethereum‘s in a significant number of countries, with nearly 2 million more monthly searches worldwide for the coin. 

As anticipated, DOGE has remained a popular digital asset and crypto cultural phenomenon after being adopted as the poster cryptocurrency for Internet icon Elon Musk.

What are the other countries with the highest number of searches in crypto terms? 

After The Netherlands and Turkey, also Germany, Canada and the Czech Republic were in the ranks of searches, according to CryptoManiaks. And although the US and the UK are major players in the global cryptocurrency industry, neither ranked high. 

This is because the number of searches is equivalent to the size of their populations. The United States ranked 15th with 1.9 percent of the population searching for these terms, while the United Kingdom ranked 12th with 2.6 percent.

Moreover, from recent sources, it appears that despite adverse market conditions, major institutions remain interested in the sector and continue to invest millions in cryptocurrency-related projects. For example, companies such as Porsche are entering the Web3 and NFT space, and Brazil recently passed a law legalizing cryptocurrency payments nationwide.

In November in particular, more than 60 venture capital transactions were completed, bringing $800 million in capital inflows into the space. So, there are many large projects under construction during this period of uncertainty, although it is certainly difficult to ignore current market conditions. 

Dogecoin and Elon Musk: could this be Twitter’s currency? 

As we know, the crypto Dogecoin has become prestigious since it has had the backing of one of the richest and most influential men on earth, namely Tesla CEO Elon Musk. In fact, his support has always been a good reason to consider it a cryptocurrency worthy of attention.

Now, since Musk also owns Twitter, the reasons for potentially considering Dogecoin as the crypto of 2023 have only increased. Let’s remember that the meme coin has come a long way and is still No. 8 by market capitalization (about $14 billion USD), and has also recorded one of the market’s highest performances, at +1250 percent in 2021.

In any case, one of the reasons for Dogecoin’s potentially greater success is surely due to Musk’s latest purchase: Twitter. Indeed, since it was purchased by Musk, Twitter has been called an “app for everything” by the new CEO.

This has prompted many speculators to wonder whether Dogecoin might soon come integrated in some way within the famous app. Although no specific statement has been made by Elon Musk on the matter, it is impossible not to observe a sudden rally that featured DOGE itself: 

The price of the cryptocurrency has actually increased by +19.4 percent, bringing it to its current value hovering around $0.10. This has obviously given rise to much speculation: the most obvious being the possible integration of Dogecoin as a payment instrument within the App.

Thus, even though all this was neither hinted at nor even stated by Musk, it was enough to tickle the interest of investors and put the focus back on the now long-dormant DOGE. 

Alessia Pannone

Graduated in communication sciences, currently student of the master's degree course in publishing and writing. Writer of articles from an SEO perspective, with care for indexing in search engines.

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