A recent survey has revealed that Americans are more familiar with Dogecoin than Ethereum. This is quite a surprise as Ethereum has much more advanced technology including smart contracts, decentralized finance, and non-fungible tokens (NFTs) compared to Dogecoin, which is basically a memecoin.
The survey was conducted by the Harris Poll in conjunction with CouponCabin. 2,063 adults in the US participated, and the goal was to seek an understanding of the perception of cryptocurrencies among people in the country.
Of the total respondents, 89% said they had heard of cryptocurrencies. Surprisingly, only 21% of respondents said they were familiar with Ethereum compared to 29% familiar with Dogecoin. The meme coin was only behind Bitcoin (71%) as the most popular cryptocurrency.
Additionally, 21 percent of respondents said they are familiar with Coinbase and the Circle stablecoin (USDC). Litecoin was known to 18% of respondents, and Stellar Lumens was familiar to just 10%.
In terms of cryptocurrencies replacing fiat currencies in the future, 31 percent of respondents believe this will happen, while 30 percent only see cryptocurrencies as innovative. 23% see it as a get-rich-quick scheme, while 19% see cryptocurrencies as shady. According to the survey, 44% of respondents agree with the idea of accepting cryptocurrencies as part of an online money back rewards program.
The findings are in line with an earlier survey conducted by Gamblerspick.com. In that survey, one in four Americans claimed that Dogecoin is the future.
Elon Musk wants you to help improve Dogecoin
Elon Musk, the CEO of Tesla Inc, in a recent video, asked developers to provide ideas via Reddit and Github to help improve Dogecoin technology.
In a follow-up tweet, he revealed the call to change Doge's fee system.
"Someone suggested changing dogecoin fees based on the phases of the moon, which is pretty impressive."
The inventor has come under heavy criticism for controlling the meme coin and messing with Bitcoin after changing the decision to accept payment from Bitcoin for Tesla vehicles. Recently, he provided a hint via a survey about the possibility of Dogecoin replacing Bitcoin as Tesla's payment cryptocurrency.
Dave Lee, a Youtuber and Tesla investor, is reported to have asked why Musk prefers Doge over Cardano, Polkadot, IOTA, Solana, and Ethereum who are trying to scale with low fees. Interestingly, Musk replied that:
Dogecoin has dogs and memes, while the others do not.