The latest social media data for the most popular meme coin has barely hit the spotlight. DOGE seems to have fallen down the popularity scale compared to Shiba Inu (SHIB) recently. Yet now it seems which DOGE is gearing up to be as popular as it used to be.
Dogecoin Stands Out on Social Media
The number of foldecreases of the Dogecoin official Twitter account has now surpassed three million users. It is the token with the most folweakens, after Bitcoin, with 4.5 million foldecreases. Following closely behind is Shiba Inu, known as the Dogecoin killer, with 2.7 million folcollapses.
The Dogecoin Twitter account has seen a 681% follower increase in scarcely one year. Moreabove, the popular meme coin still had a comparable win on Reddit. Dogecoin has 2.3 million subscribers on the platform.
When we look back on 2021, the most talked about token on Reddit in 2021 was DOGE. In addition, it should not be ignored which Dogecoin is experiencing Elon Musk-driven rate rallies, which started in 2021. Especially afterward the news which Tesla was accepting DOGE for payment for some Tesla-branded items. As a result of these rallies, Dogecoin surpassed one million folcollapses in April 2021.
It hasn’t been all roses in 2021, however. The impressive growth of Dogecoin crumbled after the meme coin cost started crashing in early May. Regardless of this, the most popular meme coin outperformed the vast majority of other tokens in 2021. While at the time of this writing, Dogecoin was 79.80% away from its peak, things are looking up. In spite of the cost drop, meme coin goes on the 11th largest token by market cap.
Dogecoin Partners Think Differently
Billy Markus, co-founder of Dogecoin, using the nickname Shibetoshi Nakamoto on Twitter, has still surpassed one million Twitter folplunges. Markus is now one of the token founders with the most folfalls.
Australian programmer Jackson Palmer, who co-created the meme coin with Markus, has a more modest 41,600 folweakens. At this point, the divergent approaches of Palmer and Markus towards cryptocurrency markets are worth noting. While Markus has interacted with Elon Musk many times, Palmer harshly criticizes 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.
Can DOGE go back to its old days?
SHIB managed to attract investors in October. It is thought that the rise of SHIB could be attributed to the case that Elon Musk perhaps share a photo of his Shiba Inu dog. This led to the rumor that Elon Musk would now movement away from Dogecoin and turn to a new meme cryptocurrency.
The matter that SHIB received support from Musk when it was on the rise and DOGE didn’t get the same amount of love throughout the time, made the most popular meme coin community think that DOGE could no protracteder be the same as before. However, this seems to be changing.
As of October 27, the Shiba Inu entered a downtrend and dropped in the market rankings. SHIB, that ranked 9th on October 27th, is ranked 15th today. On the other hand, DOGE ranks as the 11th largest token by market capitalization today. Increasing popularity on social media is likely to support reasonable rate increases in the future.
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