Dogecoin is the most in demand cryptocurrency, new study finds

New research has revealed the cryptocurrency that each state wants to invest in the most with Dogecoin taking the top spot.

The research conducted by cryptocurrency experts Coin Insider analysed Google Trends data to establish the cryptocurrency that each state wants to invest in based on searches.

The analysis revealed that Dogecoin had the highest number of states wanting to invest in the cryptocoin with a total of twenty-three states, including Illinois, Florida, Hawaii and New Jersey.

The rise in interest can be partially attributed to the endorsement of Elon Musk who stated in 2021 that Tesla would accept Dogecoin as a form of payment.

Bitcoin was the second most popular with ten states searching to invest in Bitcoin more than any other cryptocurrency, including Connecticut, Alaska, Mississippi, and New Hampshire.

A total of eight states want to invest in Ethereum the most, the third-highest number in the research. States seeking to invest in Ethereum the most include Georgia, Louisiana, Virginia and Ohio.

Shiba Inu debuted nineteen months ago and has grown astronomically, rising more than 14,000,000%. This leads it to be seven US states’ most searched for cryptocurrency to invest in, with states including California, New York, Texas and Nevada.

Lithium was the most popular cryptocurrency in one state – Pennsylvania. Cardano was also the most popular cryptocurrency in only one state – Colorado.

Commenting on the findings, a spokesperson for Coin Insider said: “The rise in cryptocurrencies has been enormous in recent years, with more and more people looking to invest in them.

“This study offers incredible insight into where these investments are coming from across the US, with Dogecoin surpassing Bitcoin as the most popular cryptocurrency on the internet. With more than 6,500 cryptocurrencies available globally, it is fascinating to see currencies that may not be the most valuable are still the most sought after.”

The study was conducted by Coin Insider, a leading digital media company that provides news, market analysis and investor insights focused on cryptocurrency.