When it comes to meme cryptocurrencies, social media engagement around these cryptocurrencies is important. This is also true for Dogecoin (DOGE), the meme coin with the highest market capitalization in the cryptocurrency world.
The latest social media data for the most popular meme cryptocurrency has caught the eye. DOGE seems to have lowered the popularity scale compared to the Shiba Inu (SHIB) recently. But now DOGE seems poised to become as popular as before.
As we reported yesterday, the number of followers of the Dogecoin official Twitter account has now exceeded three million users. DOGE is the most followed cryptocurrency after Bitcoin with 4.5 million followers. Following him closely is Shiba Inu (SHIB), known as the Dogecoin killer with 2.7 million followers.
Dogecoin Price Action
Dogecoin (DOGE) has increased by 6% in the last 24 hours with the movement of the market. The popular meme cryptocurrency was trading at $0.156901 at the time of writing.
DOGE has increased by 12% in the last 7 days and by 170% in the last 1 year. The meme coin is still 78.6% away from its ATH set on May 8, 2021.
SHIB managed to attract investors in October. It is thought that the rise of SHIB can be attributed to the fact that Elon Musk shared a photo of his Shiba Inu dog. This has led to rumors that Elon Musk will now move away from Dogecoin and towards a new meme token.
While SHIB was on the rise, Musk’s unintentional backing of the hype and DOGE not getting the same amount of love at the same time made the most popular meme coin community think DOGE could never be the same as before. So is this situation changing?
Although SHIB is up 25% today, DOGE still remains one of the most talked about cryptocurrencies. We will see together what will happen between these 2 meme cryptocurrencies in the coming days.
DOGE Also Featured On Reddit
Dogecoin Twitter account saw 681% follower growth in just one year. Moreover, the popular meme coin also made a similar profit on Reddit. Dogecoin has 2.3 million subscribers on the platform. When we look at 2021, DOGE was the most talked about cryptocurrency on Reddit in 2021. It should also not be ignored that Dogecoin has experienced price rallies originating from Elon Musk, which started in 2021. In the previous days, DOGE became more popular after Tesla announced that it accepted DOGE for payment for some Tesla-branded products.
Dogecoin surpassed one million followers in April 2021. But everything was not rosy in 2021. Cryptocurrency has experienced a serious decline over the past year. So much so that it is 79% away from DOGE ATH.
Billy Markus, the co-founder of Dogecoin, who uses the nickname Shibetoshi Nakamoto on Twitter, has also surpassed one million Twitter followers. Markus is currently one of the most followed cryptocurrency founders. Australian programmer Jackson Palmer, who created the meme money with Markus, has 41,600 followers. At this point, the different approaches of Palmer and Markus towards crypto money markets draw attention. While Markus has interacted with Elon Musk multiple times, Palmer has been harshly critical of the cryptocurrency industry. In a tweet that went viral in July, Jackson Palmer described the cryptocurrency industry as a “powerful cartel” run by the wealthy.
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