Dogecoin is More Popular Among Americans Than Ethereum: A Harris Poll Survey
No one can deny that the cryptocurrency industry is a highly unpredictable one. The worth of certain cryptocurrencies can rise or fall depending on the day or even hours. In contrast to this, the popularity of certain cryptocurrencies among consumers has been the same for years. In today’s blog post, we will be looking at two major cryptocurrencies, Dogecoin and Ethereum. The former has been around for longer than the latter, and has a loyal following. A new Harris Poll survey conducted online confirms this.
The value of the most popular cryptocurrency, Bitcoin, has been on a downward spiral since it peaked at $20,000 in December. However, while the coin’s value has fluctuated, a new study suggests some smaller cryptocurrencies have continued to increase in popularity. The Harris Poll, an American research company that conducts public opinion polling, recently surveyed more than 2,000 people to examine their knowledge and ownership of cryptocurrencies, as well as their opinions and willingness to use them going forward. Among the findings was that those who are aware of cryptocurrencies were more likely to use digital currencies in the future, and those who own cryptocurrencies were more likely to use them in the future.
The Harris Poll survey is a recent poll done by Harris Interactive, a research company in the United States, that according to their website “specializes in measuring public opinion and attitudes on key issues while also identifying emerging social trends and differentials in technology use and adoption” (21). The poll was done between May 7, 2014 and May 13, 2014 in which 1030 “adults ages 18+” living in the United States were surveyed.
Ethereum (ETH), founded in 2016, is a decentralized, open-source blockchain-based software platform that uses its own crypto-currency, Ether, on which smart contracts are executed. Since its inception, the platform has introduced other features such as DeFi (decentralized finance), NFTs (non-gambling tokens) and agriculture. It is currently the second largest blockchain project in terms of market capitalization, after bitcoin. Dogecoin (DOGE) was created in 2013 by IBM engineers Billy Marcus and Jackson Palmer as a meme coin. Although the company has not brought enough innovation to the cryptocurrency sector, it has gained immense popularity. It’s been in the news since last year, thanks in large part to billionaire Elon Musk. But when it comes to Dogecoin offers, there’s no limit. Finally, Dogecoin was nothing more than a coin meme. So it is logical to expect the average person to be more familiar with Ethereum than Dogecoin. But according to a survey conducted by Harris Poll in partnership with CouponCabin, an online coupon resource company that provides free printed local and grocery store coupons for thousands of merchants, more people in the U.S. are aware of Dogecoin than Ethereum. The Harris Poll is a market research and analysis firm. It is a reputable opinion research institute that provides opinion surveys for the media, politicians, etc.
More than 2,000 American adults were surveyed and asked for their opinions on cryptocurrencies. Interestingly, 29% of Americans surveyed said they were familiar with Dogecoin, while only 21% were familiar with Ethereum. When asked if they had ever heard of cryptocurrencies, 89% of the 2,063 respondents replied that they had at least heard of them. Of all the cryptocurrencies, bitcoin was known to the majority (71%) of respondents. Dogecoin was next on the list, it is the second most popular cryptocurrency. This is a big shock to cryptocurrency enthusiasts, as Ethereum is one of the most popular cryptocurrencies with real-world use cases. On the other hand, the price of dogecoin is rising due to speculation fueled by Elon Musk’s tweets about dogecoin. In addition to Bitcoin, Dogecoin and Ethereum, other digital currencies that U.S. adults admit to being familiar with include a stablecoin launched by Coinbase and Circle, USD Coin (USDC), which 21 percent of respondents stated they were familiar with. About 18% of those surveyed said they were familiar with Litecoin (LTC), and 10% said they were familiar with Stellar (XLM). In addition, respondents were asked if they thought cryptocurrencies would be the future of money. The result was that 31% of them responded positively. Another 30% responded that they think cryptocurrencies are innovative. In addition, 23% of those surveyed said they thought cryptocurrencies were a get-rich-quick scheme, while 19% said the technology was untrustworthy or dishonest. Some 44% of respondents admitted that they wouldn’t mind receiving cryptocurrencies as part of an online cashback incentive scheme.
Elon Musk and Dogecoin
Last year, Musk sparked a wave of interest in Dogecoin, a cryptocurrency meme, after he jokingly sent out a series of tweets about it. Since then, this digital currency has gained tremendous popularity and its value has soared. Musk, who most often talks and tweets about Dogecoin, said in early May that he was also working with developers to improve the cryptocurrency. He also stated that its value is largely speculative at this time. However, many investors, including Musk himself, have said that investors should be careful when buying cryptocurrencies. With Dogecoin, the risks are even greater, as this crypto currency is one of the most speculated at the moment. Many leading investors have advised against investing in Dogecoin, arguing that excessive interest in the digital asset could lead to a bubble in the cryptocurrency market. Some investors also believe that the rise of Dogecoin is a classic example of the greater fool theory. This means that even though everyone is buying Dogecoin now, the bubble will burst one day. At this point, investors could be on the losing end if they don’t get out of the action in time. But given the current scenario, it is almost impossible to predict when this will happen.An online Harris Poll conducted for Yahoo Finance shows that one in four Americans are familiar with cryptocurrency, and of course, several of them are also invested in the cryptocurrency market. In fact, that number is higher than you might expect: nearly 20% of Americans have exposure to cryptocurrencies, while only 12% are invested in them. The poll also asked which cryptocurrency was most popular among Americans. Surprisingly, the winner of this popularity contest is Dogecoin, which isn’t even worth half a Bitcoin.. Read more about ethereum stock and let us know what you think.
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