US crypto investors are less interested in Dogecoin: Survey


The survey revealed that the bad time for Dogecoin is continuously surging with the downfall numbers of Doge investors.

Dogecoin is a popular meme coin, which was launched in 2013 without any use case. At present, Dogecoin stands at 12th rank in terms of 24 hours global trade volume. In late 2020, Dogecoin started to grab traction in the crypto industry under the leadership of Tesla CEO Elon Musk. 

Recently MorningConsult, a global decision intelligence company, published its report on behalf of its survey conducted on 4,400 crypto investors in the US. 

According to the survey findings, Dogecoin lost 44% loss in terms of interest among the crypto investors, by April of 2022. While this downfall in the Dogecoin interest is 8% since January of this year. 

 Survey findings also noted that Bitcoin also faced a net downfall in terms of interest but still downfall is less than Dogecoin, which is only 6%.

A very bitter trust for Ethereum coin was also seen among the crypto Investors, which dropped to around 14% since January of this year. And this is a hint that the majority of the crypto Investors are not able to understand the technical upgrade plans of the Ethereum project and also due to slow work, users are not showing interest. 

However, the report noted that lost interest in Ethereum may have taken place because of Ethereum’s rival blockchain projects like Terra, and Solana.

US crypto investors are less interested in Dogecoin: Survey 1

In this survey, only those crypto Investors participated, who were fully aware of crypto investment. So here lack of understanding or fake hype can’t be considered an effective factor to the findings.

In this week, interestingly huge numbers of big investors showed better support for Ethereum. This fact is a hint that big players are aware of the future upgrade plan of Ethereum, while retail investors are not.

Read also: Binance waiting to get regulatory approval in Spain: Halts Derivative trading