Dogecoin remains the third most popular cryptocurrency despite price drop
According to a report published by global data intelligence firm Morning Consult, Dogecoin and Shiba Inu are among the most popular cryptocurrencies owned by American adults. The two meme coins are in the third and sixth positions respectively.
A Morning Consult poll shows that nearly four out of four Americans who own cryptocurrencies have Dogecoin in their portfolios. For comparison, the Shiba Inu is 26%.
The two meme coins have managed to maintain their popularity, even though they have lost about 90% of their value.
Of course, Bitcoin and Ethereum are the two most popular cryptocurrencies (75% and 49% respectively). Circle’s USD Coin and Litecoin come in at the fourth and fifth positions respectively.
Binance Coin, Solana, Cardano, XRP and Tether’s USDT are also in the top 10.
The report also shows that cryptocurrency owners use traditional financial services in line with the general population.
The vast majority (66%) of cryptocurrency owners admit that they are in it for the money. However, adoption drivers vary globally. For example, Japanese and South Korean buyers prefer crypto mainly because it is “supportive for online transactions”.
A growing share of Americans are in favor of tighter regulation after high-profile projects like Terra went awry.
Men, millennial investors and high-income Americans are driving cryptocurrency adoption.
In early March, another survey by Morning Consult revealed that 91% of American adults had heard of cryptocurrencies.
Less than a third of Americans believe that central bank digital currencies will be able to challenge crypto.
