There were more mentions of the meme coin ICO Analytics. It even outperformed the largest cryptocurrency by market capitalization: .in the last month on Twitter than any other cryptocurrency, based on data from the cryptocurrency tracker
In February it was inevitable … $ Doge you have flipped $ BTC as the most discussed digital asset in Feb 2021. In the chart below you can find a share of mentions of each coin among top 150 by marketcap.$ eth $ ada $ xrp $ link $ pols $ bnb $ dot $ egld $ ltc $ cake $ vet $ trx $ something $ nano $ usdt pic.twitter.com/Zdav3WvA8p
– ICO Analytics (@ICO_Analytics) March 3, 2021
According to the tracker, Dogecoin garnered 10.4% of all cryptocurrency-related mentions on the social media site in February. Bitcoin, on the other hand, recorded a number slightly lower than 10.1%.
Mentions of the coin were ten times higher than those of a decentralized exchange based on Ethereum that has 17,000 active users.
Dogecoin was founded as a "joke" coin in 2013 with a Shiba Inu dog as a pet. Today, the cryptocurrency is valued at over $ 6.5 billion and is no stranger to being popular, with celebrities, rock stars, and tech entrepreneurs, and even government officials mentioning the coin on social media.
One of the biggest fans of Dogecoin is Tesla CEO Elon Musk, who has referred to himself as the CEO of Dogecoin in the past.
The Dogecoin rocket wasn't limited to Musk and Twitter. It became one of the talking points on the video app TikTok in 2020, even sparking a Dogecoin ‘Challenge’, which was a trend for several days.
Such popularity has caused altcoin prices to skyrocket. According to the markets tool CoinGecko, DOGE went from less than $ 0.002 in January 2020 to an all-time high of $ 0.083 last month, an increase of 4050%.
Meanwhile, Dogecoin has come under fire for a few reasons. Only one direction contains more than 27% of its total supply, which raises concerns about artificial inflation of its prices. It is a point that seems irritate Musk as well. Their network hadn't had any active development for a long time, which caused some issues when transacting, but one new update published earlier this week hopes to fix it.