One of Dogecoin’s co-founders ponders why public interest in his brainchild is almost 3x less than it was last year
- “Cryptocurrencies are only interesting when the price is high”
- DOGE down 90% from its all-time high
Billy Marcus, an IT engineer who created the most popular meme crypto, DOGE, in 2013 as a parody on bitcoin with Jackson Palmer, has tweeted, apparently, the main reason for the large amount of investor interest in Dogecoin. is believed. There has been a substantial decline since the summer of 2021.
“Cryptocurrencies are only interesting when the price is high”
Marcus shared a screenshot that shows a massive drop in search requests on the most popular search engine related to DOGE.
The chart shows that, while in June of last year, massive interest in Dogecoin reached the 100 mark, by May 2022 it had fallen below 25 – i.e. almost 3x. The high level of interest reached by DOGE last year was due to the meme coin hitting an all-time high in early May.
He tweeted that the mass interest in crypto generally increases when the coin’s price is high. When it falls, as is now happening with Doge, Bitcoin, Ethereum and most of the cryptocurrency markets, curious people lose interest in these coins.
Crypto Is Only Interesting To The Public When The Numbers Rise
Always has been, always will be pic.twitter.com/522uiLWQKa— Shibetoshi Nakamoto (@bilm2k) 6 June 2022
At the time of writing, Dogecoin is down 5.11% in the last 24 hours.
DOGE down 90% from its all-time high
Dogecoin reached $0.7376 on May 8 last year. The main driver for that record peak was Elon Musk’s endorsement of Dogecoin during its debut on American television on Saturday Night Live (SNL).
Next, he discussed the meme coin with the actors on the show, telling the audience about it and crypto in general.
The price peak of DOGE declined suddenly to the $0.5596 level.
At press time, the Canine coin is changing hands at $0.0795, according to data provided by CoinMarketCap.