According to the findings of a survey done by a financial research business called The Advisor Coach, Dogecoin was the cryptocurrency with the most number of states interested in investing in it, with an aggregate of 23 states, including Illinois, Florida, Hawaii, and New Jersey, desiring to do so.
The research was carried out across the United States in order to determine which cryptocurrencies individuals in each state are interested in investing in based on their searches. As per a survey conducted by The Advisor Coach, Dogecoin received an average of 7 million queries in October 2021.
Per the survey, the quantity of interest in Bitcoin and Ether combined surpasses the level of interest in Bitcoin and Ether put together. According to the Advisor Coach article, Dogecoin’s success may be attributed in part to the fact that Tesla CEO Elon Musk has promoted the cryptocurrency on several occasions.
“It has been speculated that Elon Musk’s support of dogecoin earlier this year, when he said that Tesla will accept dogecoin as a means of payment, has contributed to the increase in interest.” According to the company, Bitcoin was the second most common cryptocurrency, with ten states wanting to invest in Bitcoin more than any other coin, according to data from CoinMarketCap.
Connecticut, Alaska, Mississippi, and New Hampshire were among the states affected. Only eight states expressed a desire to invest in Ether above any other cryptocurrency, with Louisiana, Georgia, Ohio, and Virginia among the states that expressed a want to invest in Ether.
Shiba Inu (SHIB) – a meme coin whose value has increased by 14,00,000 percent since its launch roughly 15 months ago – came in as the fourth most common cryptocurrency, with investors from seven states, including California, New York, Texas, and Nevada, showing interest in the cryptocurrency.
Dogecoin and Shiba Inu coin are both considered “meme coins.” Their value has skyrocketed to the point that they are now among the top ten most valuable cryptocurrencies with respect to market capitalization.