Analysis of Google search data reveals that online searches for ‘Buy Dogecoin’ exploded 392% worldwide on April 25, 2022, the same day that it was announced that Elon Musk, one of the biggest endorsers of Dogecoin, had bought the social media platform, Twitter for $44 billion.
Online Searches For ‘Buy Dogecoin’ Explode
Analysis by CryptoWallet.com reveals that online interest in buying Dogecoin skyrocketed to almost four times the average volume in one day due to Musk acquiring full ownership of Twitter.
Contrarian Investor On Why He’s Greedy About “Boring” Companies When Others Ignore Them
Contrarian investors have long faced off with momentum investors as many favorite stocks like the FAANGs soared for an extended period with no signs of slowing down. But when momentum investing seemed like the way to win, famous contrarians like Warren Buffett were still finding attractive positions. At the Ben Graham Centre’s 2022 Virtual Value Read More
A spokesperson from CryptoWallet.com, while commenting on the findings, stated that: “Not only is Elon Musk the richest person in the world, he is also one of the most outspoken endorsers of Dogecoin, with single tweets and comments from Musk sparking a surge in the cryptocurrency’s price.
“Since the news of Musk buying Twitter broke, Dogecoin has jumped by 17%, with the price expected to rise as the story develops.
“These findings offer a fascinating insight into the influence and power that Elon Musk has, not only on mainstream social media platforms but also in the world of cryptocurrency.”
Google searches for ‘How to buy Dogecoin’ also increased 301% on the same day as well as ‘What is Dogecoin’ rising by 237%.