When it comes to the most popular cryptocurrency in the world, the most popular social media interaction is around the coin. We take a look at the meme coin with the highest market value in the cryptocurrency world – Dogecoin.
DOGE seems to have fallen down the popularity scale compared to SHIB recently. However now it seems that DOGE is gearing up to be as popular as it used to be.
Dogecoin Stands Out on Social Media
The number of followers of the Dogecoin official Twitter account has now surpassed three million users. It is the cryptocurrency with the most followers, after Bitcoin, with 4.5 million followers. Following closely behind is Shiba Inu, known as the Dogecoin killer, with 2.7 million followers.
Dogecoin, a meme-based cryptocurrency, has had a 681% follower increase in just one year. The popular coin also had a similar win on Reddit. Dogecoin has 2.3 million subscribers on the platform Shiba Inu.
With the DOGE market price in 2021, many investors started to get interested in Dogecoin, which is one of the top-five most popular cryptocurrencies on Reddit. Since then, Dogecoin has also experienced Elon Musk-driven price rallies, which started in 2021. In particular, the news that Tesla was accepting Dogecoin for payment for some Tesla-branded items has caused Dogecoin to surge in price.
It hasn’t been all roses in 2021, however. The impressive growth of Dogecoin stalled after the meme coin price started crashing in early May. Despite this, the most popular meme coin outperformed the vast majority of other cryptocurrencies in 2021. While at the time of this writing, Dogecoin was 79.80% away from its peak, things are looking up. Despite the price drop, meme coin remains the 11th largest cryptocurrency by market cap.
Dogecoin Partners Think Differently
Billy Markus, co-founder of Dogecoin, has more than one million Twitter followers. He has surpassed one of the cryptocurrency founders with the most followers.
The success of the coin is in no way a reflection of the work of Jackson Palmer, who has a modest 41,600 followers. Palmer has had an ongoing feud with Elon Musk, criticizing the industry.
In a tweet that went viral in July, Jackson Palmer described the cryptocurrency industry as a “powerful cartel” run by the wealthy.
Dogecoin has gone through a lot of changes, but can it go back to its old days?
SHIB attracted investors in October. This is thought to be due to the fact that Elon Musk might share a photo of his Shiba Inu doge. This led to the rumor that Elon Musk would now move away from Dogecoin and turn to a new meme token.
This can be explained by the fact that SHIB received support from Musk while it was on the rise and DOGE didn’t get the same amount of love at the same time, which made the most popular meme coin community think that DOGE could no longer be the same as before. However, this seems to be changing.
In October 27, the Shiba Inu dropped in the market rankings. SHIB, which ranked 9th on October 27th, is ranked 15th today. On the other hand, DOGE ranks as the 11th largest cryptocurrency by market capitalization today. Increasing popularity on social media is expected to support possible price increases in the future.
Featured photo source pexels.com
