Investors know dogecoin more than ethereum
Nearly three-quarters (74%) of investors said they have heard of dogecoin, compared to ethereum's 56%. While the demand for bitcoin has increased substantially, with over a quarter (26%) of the investors surveyed saying they already own bitcoin, it is also true that they have diversified their investments in alternative cryptocurrencies, otherwise known as "altcoins". Of this group of investors, 46% and 44% also jointly held ethereum and dogecoin in their accounts.
With a massive increase in the popularity of cryptocurrencies in 2021, meme coins have dominated the market. The first coin, born as a parody of bitcoin in 2013, was dogecoin, inspired by the Japanese dog shiba inu. In 2021, dogecoin rose nearly 15,000% in the first half of the year to hit record highs of $ 0.76 on May 8, thanks to publicity from Tesla CEO Elon Musk. Dogecoin has also seen increased adoption as US-based cinema chain AMC Theaters and online electronics retailer Newegg have officially allowed payments in the popular cryptocurrency.
