Bitcoin has become one of the most searched for items on the internet. Several times, the search for it has beaten that of its long-term rival, gold. However, the Dogecoin cryptocurrency has suddenly surpassed Bitcoin by search in the United States. According to Google Trend data, the search volume suddenly surpassed that of Bitcoin recently when Elon Musk started tweeting constantly about Dogecoin.
Probably as a result of the number of searches for the cryptocurrency, crypto market data aggregator Coin Market Cap has placed information about Dogecoin right on top of the home page for easy access by visitors. This includes the current price and the change in the last 24 hours.
Elon Musk Pumps Token
Elon Musk and Dogecoin have a long history together. The cryptocurrency is fondly called Musk’s cryptocurrency. He was even the CEO of Dogecoin for a few hours in the past. On several occasions, Musk has tweeted about Dogecoin and it pumped, but this time is different. He has been tweeting about it since January.
The unusually high interest in Dogecoin from Musk coincides with an unusual pump, which has led the crypto community to believe that the tweets are responsible for the surge. DOGE price went up over 800% within 24 hours which is one of the biggest pumps in the history of cryptocurrency.
It is therefore not unusual that there is an increased interest in it, which has led many Americans to search for it on Google, probably including those who have never heard of it before. This may be mostly out of Musk’s over 45 million Twitter followers. After the 800% pump, DOGE’s market cap reportedly exceeded that of Litecoin and it became the 8th largest cryptocurrency before dropping back to the 12th position which it has never come close to before.
Dogecoin the Currency of the World? Peter Schiff Disagrees
Elon Musk has proven to be a big fan of Dogecoin. He has however taken his love for the fun cryptocurrency higher by saying it is the future currency of the world. In a Twitter poll, he asked if Dogecoin or all other cryptocurrencies combined will be the future currency of the earth. Responding, gold bug Peter Schiff said any future currency for the earth will need to have real value and neither Bitcoin nor any other cryptocurrency has value, but gold does. He added that if there will be a future currency for the earth then it will have to be gold.
Meanwhile, Bitcoin, and now Dogecoin as well many other cryptocurrencies have outperformed gold this year alone. At the moment, Dogecoin’s price has increased to $0.05205 while Bitcoin just broke above $40,000 today after weeks of consolidating under $35,000.