January 27, 2023
Study Discloses Turkey's Obsession With Cryptocurrency, Particularly Dogecoin

Study Discloses Turkey's Obsession With Cryptocurrency, Particularly Dogecoin

The crypto market’s slump does not imply a crypto interest drop. According to a new study from the cryptocurrency education platform CryptoManiaks, many countries are still scouring the internet for crypto-related information.

According to the study, the Netherlands and Turkey rank first and second, with 8.2% and 5.5% of the population searching for crypto-related terms, respectively. Turkey, in particular, accounted for 4.7 million searches, leading the pack in terms of sheer volume.

The study converted the total number of searches for a specific set of popular cryptocurrencies into a percentage of the population for each country to determine the rate of locals searching each month.

While it ranked second overall, Turkey ranked first for searches related to the meme coin Dogecoin, with 812,000 monthly searches. This is nearly double that of Ethereum, the third most searched cryptocurrency in the country.

A CryptoManiaks spokesperson commented on the DOGE craze, particularly in the last year:

“Dogecoin has surpassed Ethereum in many countries, with nearly 2 million more monthly searches for the coin globally.”

After being adopted as the poster cryptocurrency for internet icon Elon Musk, the cryptocurrency DOGE has remained a popular digital asset and crypto cultural phenomenon.

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Bitcoin, Solana, and Binance Coin were among the cryptocurrencies mentioned in the search terms.

Germany, Canada, and the Czech Republic followed the Netherlands and Turkey in the rankings.

Even though the United States and the United Kingdom are major players in the global cryptocurrency industry, neither ranked first due to the number of searches equal to their population sizes. The United States ranked 15th, with 1.9% of the population searching for these terms, while the United Kingdom ranked first. with 2.6%, is ranked 12th.

According to recent Cointelegraph research, major institutions remain interested in the industry despite market conditions and continue to invest millions in crypto-related projects.

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