What Is the Reason Behind the Increased Interest of Investors in Dogecoin Over the Past Few Months?
Dogecoin News – Meme cryptocurrency Dogecoin (DOGE) has seen increased interest from potential US investors, given the token’s modest growth. Specifically, data obtained by Finbold on Dec. 2 indicates that interest in the keyword “Buy Dogecoin” in the US increased by 625% in three months on Google Trends. A breakdown of search term concentration shows that Idaho ranks first among US states with the highest score at 100, followed by West Virginia at 97 and Louisiana in third at 86.
Maryland is fourth with a score of 80, while California ranks fifth at 78. The interest has correlated with a period when DOGE has sustained increased buying pressure partly triggered by Elon Musk’s acquisition of Twitter. In particular, Tesla’s (NASDAQ: TSLA ) CEO takeover of the social media giant has sparked speculation that DOGE could be included as a payment option. Furthermore, the interest in DOGE is validated by the fact that despite the market correction, about 60% of the asset’s holders were still in profit as of November 28. Interestingly, the community has high hopes for the future potential of DOGE, considering that 69% of holders have held the token for more than a year.
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