Although Bitcoin and Ethereum, the world’s largest digital coins, still hold the biggest ownership rates in the crypto space, Dogecoin ranks high on the list of the most popular cryptocurrencies. Despite its huge price drop last year, the world’s tenth-largest crypto remains one of the most popular crypto investments, especially in the United States.
According to data presented by BitcoinCasinos.com, Dogecoin is the second most-popular cryptocurrency in the United States behind Bitcoin, with a 42% brand awareness rate.
Dogecoin More Popular in the US than Ethereum, USD Coin, Litecoin, and Shiba Inu
When it comes to the most well-known cryptocurrencies in the United States, Bitcoin leads the charts by a long margin. According to Statista Consumer Insights, the world’s largest crypto by market cap is known among 74% of online respondents in the United States.
While far below Bitcoin in terms of price and market cap, Dogecoin ranked as the second-most popular crypto investment in the United States. The popular meme-coin has a 42% brand awareness rate, much higher than some other larger cryptocurrencies.
Statistics show Dogecoin is more popular in the United States than Ethereum, known among 38% of online respondents, the same as USD Coin. Litecoin and Binance Coin follow, with 33% and 32%, while Shiba Inu stands in seventh place with a 29% brand awareness rate.
Statistics show Dai, Polkadot, and Chilliz are the least popular cryptocurrencies in the US market, with 22%, 20%, and 18% brand awareness rates, respectively.
The Statista Consumer Insights show Dogecoin is slightly less popular in the United Kingdom, where it’s recognized by 32% of online respondents. That puts Dogecoin in third place of the most popular cryptos, behind Bitcoin and Ethereum.
Dogecoin’s Price Still 83% Below an All-Time Peak in Mid-2021
Despite remaining one of the most popular cryptocurrencies in the US market, Dogecoin has seen its price tumble last year. The CoinMarketCapa data showed the meme coin lost 56% of its value in 2022 only, ranking among the biggest crypto price losers.
At this point, Dogecoin’s price is still 83% below its all-time peak in mid-2021, when it grabbed investors’ attention as one of the fastest-growing cryptos out there. In May 2021, Dogecoin was traded at $0.55, while its market cap stood at $72.5bn at that time. After a turbulent 2021, and cold 2022, Dogecoin’s price slumped to $0.08, wiping more than $60bn off its market cap.