The Year of the Cryptocurrency has been concluded. It's being said that Bitcoin is an inflation hedge on a par with gold and ether is becoming the criptocurrency of choice for digital collector's items, and likely soon, the metaverse.
The public's imagination has not been captured by either of these two cryptocurrencies.
Dogecoin, which was founded by software engineers Billy Markus and Jackson Palmers as a joke, has been the most searched for in the largest number of states so far this year. The coin was the most searched for in 23 states, including Florida, Illinois and Michigan.
It shot to prominence this year thanks to the cheerleading of Musk, who is a known enthusiast of cryptocurrencies. In May this year, Musk said that he might accept dogecoin as payment for his company's electric vehicles.
At the start of the year, the price of dogecoin was closer to $0.007 than it is now, but Musk's payment remark sent the price to a record of $0.70, making it a beloved coin among retail traders. It's still one of the stars of the year with a gain of over 5,000% so far.
The advisor coach said that the rise in interest can be attributed to the endorsement of Musk who stated earlier in the year thatTesla would accept dogecoin as a form of payment.
The rise of dogecoin spinoffs is a result of the traders' admiration of Musk. The boss of the company has a dog. There is a coin named after Musk's real-life pup, Floki.
In just 10 states, including Connecticut, Alaska and Mississippi, it was the most-searched for coin. The total market value of cryptocurrencies is close to $3 trillion, having risen from around $500 billion a year earlier.
shiba inu was the fourth most searched in eight states. Wall Street and the country's most powerful financial institutions are located in New York.
There is a map of cryptocurrencies.
The coach.
