Dogecoin has more crypto holders than Bitcoin or Ether in the US: Study

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Dogecoin is the most popular memecoin of all and although the cryptocurrency started out as a joke in 2013, its growth in the US – especially over the past year and a half – is certainly not to be sneezed at. A recent study in 22 countries by an Australian cryptocurrency survey agency found that Dogecoin (DOGE) adoption rates in the U.S. are outperforming Bitcoin and Ether – to the point where adoption is almost twice that worldwide Average.

The agency Finder in question claims in its study that 30.6 percent of the cryptocurrency owners surveyed in the US stated that they personally own Dogecoin. In pure numbers, this is 1.6 times the global acceptance of 19.2 percent.

However, the survey found that DOGE is not as popular in Asia as Bitcoin, Ether and Binance Coin. While more than three-quarters of cryptocurrency holders in Japan own bitcoin, Singapore cryptocurrency holders prefer ether. In Indonesia, however, digital asset owners prefer to own Binance Coin.

But Dogecoin’s rising popularity is not making headlines for the first time. Back in August, blockchain analytics firm Chainalysis confirmed that new investors were flocking to DOGE at a level that has not been seen for almost four years. However, a significant percentage of the Memecoin supply remains in the hands of a few large holders, which shows that it is not as decentralized as some of the other crypto assets.

Meanwhile, Cardano is another popular altcoin that has been witnessed by mainstream adoption as some of the more well-known crypto assets. According to a survey in Australia, Cardano is the most popular. More than a quarter of the country’s adult cryptocurrency owners own the native crypto coin – ADA of the Cardano ecosystem.

Based on a sample of over 41,000 people in 22 countries, the Finder survey shows that at least one in ten people worldwide has cryptocurrencies, which shows that the acceptance of cryptocurrencies is increasing.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

(This story was not edited by NDTV staff and is automatically generated from a syndicated feed.)

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