In 2021, the trajectory of Dogecoin is similar to that of a comet. Cryptocurrency has increased by more than 14,000% since January 1. And while the shiba token was already threatening Bitcoin in some domains between May 2 and May 8, it continues to outpace it on Google.
Bitcoin forgot within a week for Dogecoin
Globally, Dogecoin has won the number of search engine queries on the leading search engine. Indeed, the numbers provided by Google Trend make it clear and realize that this is a first for Elon Musk’s beloved token.
This interest of Internet users, looking for information on this cryptocurrency, is expressed in points. Between May 2 and May 8, Dogecoin crushed Bitcoin, with 62 points against 50. Among French Internet users, bitcoin continued to win over DOGE, even if the curve clearly illustrates the opposite trend recorded by 2 active.
It is nonetheless a real breakthrough. Indeed, over the last 12 months, the BTC had largely collected the favors of Internet users with a score of 39 points against just 7 for the DOGE. But by the end of January, the canine token pointed its muzzle, climbing to 37.
However, it was on April 11 that Dogecoin really started to unseat Bitcoin on Google.
Price volatility, but also interest
These 2 variables quite simply coincide with the periods of strong increases in its price. In April, for example, Dogecoin recorded, in the span of a single day, a surge of 80% of its price.
April and May were thus marked by several major episodes of rise in the price of DOGE and the number of its millionaires. This was especially true earlier this month. By listing him, eToro and Gemini had given him a big boost between May 2 and May 8.
But the climax was scheduled for May 8. Elon Musk was actually scheduled to appear on US television’s star show “Saturday Night Live.” Crypto investors were eagerly awaiting to see Musk once again praise the token to the shiba.
The disappointment was ultimately at the level of expectations. The value of the crypto quickly began to drop sharply during the issuance to fall below $ 0.50. The DOGE has remained trending downward ever since. And for good? Its volatility allows it to suddenly flare up, even with a simple tweet.
Source: Paperblockchain
