Retail Investors Choose Dogecoin Over Bitcoin, New Poll Finds

Retail Investors Choose Dogecoin Over Bitcoin, New Poll Finds

PENGY November 18, 2024, 1:03 am Facebook Twitter


Two cryptocurrency assets stood out this week. Following Donald Trump’s victory, the entire market was painted green. However, Bitcoin (BTC) and Dogecoin (DOGE) brought major gains to investors. While BTC hit an all-time high and is moving closer to the $100,000 mark, DOGE was recording a triple-digit rise. Amidst this, an analyst polled X, asking investors which coin they would invest in. It looks like a majority of them were leaning towards the meme coin.

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Bitcoin or Dogecoin?

Ali Martinez, a prominent cryptocurrency analyst took to X as both DOGE and BTC were rising. He asked his followers which cryptocurrency they would invest in if they had only $100 with them. A $100 during the time of the poll would have brought in either 0.001124 BTC or 250 DOGE.

About 83% of nearly 4,000 of them were inclined towards purchasing Dogecoin. Only 17% wanted to buy the world’s largest cryptocurrency.

The analyst revealed the results and noted how Dogecoin had surpassed Bitcoin. Ali Martinez further said,

“It appears that retail investors are leaning towards #Dogecoin over #Bitcoin. With $BTC often seen as pricey, $DOGE is drawing interest as an affordable option with potential for gains, particularly with backing from Elon Musk.”

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November Gains

Over the past week, Bitcoin has surged by nearly 20%. At press time, the king coin was trading at $90,334.77, following a 1% drop over the last week. It should be noted that about two days ago, BTC hit an all-time high of $93,434 and is currently 3% below this mark.

Source

As seen in the above chart, Dogecoin’s trajectory has been much better. Yet, the meme coin failed to move towards its all-time high. Dogecoin rose by over 91% over the past seven days. At press time, the asset was trading at $0.3766 following a 4.73% drop over the past 24 hours.

Also Read: Currency: What’s Happening With The US Dollar & Euro?

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