The fame of Dogecoin wins over Ethereum

By: Bharggavi Ssayee

May 27, 2021 11:11 PM

The second largest crypto in the world, however, Ethereum enjoys less awareness than Dogecoin, according to a Harris Poll.

Could this be the result of Elon Musk's repeated tweets? The boss of Tesla has been promoting the DOGE token to his more than 50 million subscribers for months. Musk even had the opportunity to mention the name on a very popular show in the United States.

The manager is not the only vehicle for promoting Dogecoin, however. Still, cryptocurrency enjoys a strong notoriety today. This is especially true in the United States.

29% of respondents know Dogecoin

A survey of a representative sample of 2,063 Americans allows us to measure this notoriety. According to Harris Poll and CouponCabin, 29% of respondents say they are familiar with Dogecoin.

This is more than for Ethereum, yet the 2nd largest cryptocurrency in the world. Its awareness rate is 21%, or 8 points lower than the DOGE. A shame given the major place occupied by the blockchain in DeFi and NFT.

Popular on social networks and forums like Reddit, Dogecoin therefore reaches a wider audience than just crypto investors. This may explain its notoriety premium in the United States. In early May, Dogecoin even supplanted Bitcoin on Google search queries.

This popularity has been growing since the start of 2021. On Google Trend, the Doge's search score was 37 points in January. Between May 2 and 8, it topped BTC with 62 points compared to 50.

Bitcoin, the most famous crypto

Nevertheless, the cryptocurrency with the highest level of notoriety remains Bitcoin according to Harris Poll. 71% of the 2,063 Americans surveyed are already aware of Bitcoin. They are also 89% to be informed about cryptocurrency, in general.

This knowledge, however, does not encompass major crypto-assets. 21% of participants say they are familiar with USD Coin (USDC), a major stablecoin. For Litecoin, the level of notoriety drops to 18% and to 10% for Stellar (XLM).

These figures nevertheless reflect the greater democratization of cryptocurrencies. These are no longer reserved only for experts in the crypto universe. In fact, 31% of those polled believe that these tokens are the future of money.

30% also consider them innovative.

Not everything is idyllic, however. 23% of respondents see cryptocurrencies as a get-rich-quick scheme. Enough to fuel speculation and volatility even more. Finally, 19% qualify them as suspicious and harmful.