Dogecoin will become currency of Twitter and the ‘X-App’ – Turkey is convinced

  • A recent survey shows that Turkey trumps all other countries in terms of the excitement for memecoin DOGE.
  • The interest in Dogecoin (DOGE) has sparked after the recent acquisition of Twitter by Elon Musk.

The crypto winter of 2022 followed by a massive correction in the broader crypto space has led to subdued investor participation. However, that’s not entirely the case with every country out there.

Cryptocurrency education platform CryptoManiaks have published a new study that reveals many countries are still scouring the internet and equally hungry for any crypto-related information. A recent study shows that Turkey alone accounted for nearly 4.7 million searches for crypto.

Also, the study by CryptoManiaks analyzed the total searches for a select set of popular cryptocurrencies into a percentage of the population for each country. This was to calculate the percentage of locals searching each month.

Turkey Prefers Dogecoin

As per CryptoManiak’s study, Turkey stands second in the overall searches for crypto assets. However, it is the top-ranking country for searches related to the world’s largest memecoin aka Dogecoin (DOGE). The total number of monthly searches for DOGE in Turkey is 812,000.

This is nearly double the total number of Ether (ETH) searches by Turkish crypto residents. Commenting on the Dogecoin (DOGE) curiosity over the last 12 months, a spokesperson from CryptoManiaks commented:

Dogecoin’s popularity has surpassed that of Ethereum in a significant number of countries, with nearly 2 million more monthly searches worldwide for the coin.

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Dogecoin (DOGE) has been in the news recently, especially after Elon Musk’s acquisition of Twitter in late October 2022. As the news of the Twitter acquisition became official, the DOGE price rallied over 100% in a week’s time before correcting again. But with a market cap of $11.7 billion, Dogecoin (DOGE) is still the eighth-largest cryptocurrency in the world.

With Elon Musk being the new Twitter boss, speculations are rife that Twitter would soon integrate DOGE payments into its platform. Many Musk followers and Dogecoin enthusiasts are optimistic about this scenario. Recently, Twitter also unbanned several Dogecoin (DOGE)-related meme accounts on Twitter hinting at a more accommodative approach.

However, recently there also have been reports that Twitter is planning to introduce its native coin. Although these reports are quite preliminary in nature, if true, they would reduce the chances of Dogecoin payment integration to the platform.

Turkey And Crypto

Over the last year or two, Turkey has been under a major economic upheaval with the value of the Lira collapsing pretty fast against the U.S. Dollar. As a result, a lot of Turkish citizens have moved their money into crypto to protect their wealth.

This has also boosted the participation of Turkish citizens in crypto. Turkey is the fourth-largest country with 18.6% of cryptocurrency owners which is equivalent to 8 million people.

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About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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