In the meme altcoin competition in the crypto money market, new records continue to come. Dogecoin (DOGE)'s official Twitter account has surpassed three million followers.
Dogecoin is the second most followed cryptocurrency on the popular social media platform twitter. The leader of the market, Bitcoin (BTC), occupies the first place. DOGE's rival, Shiba Inu, has 2.7 million Twitter followers.
The Dogecoin account has grown astonishingly over the past year, registering a 681 percent increase in follower count. DOGE's Reddit community also has 2.3 million subscribers. The popularity of the meme coin gained momentum in the fourth quarter of 2021 due to the rally triggered by Elon Musk. His Twitter account surpassed one million followers in late April amid an unprecedented retail investor frenzy.
However, this impressive growth stalled after the Dogecoin price started crashing in early May. Still, DOGE rose almost 5,000 percent in 2021, outperforming the vast majority of other top cryptocurrencies.
As of now, Dogecoin is 79.80 percent lower than its all-time high. Despite the price drop, the meme altcoin remains the 11th largest cryptocurrency by market cap.
Dogecoin co-founder Billy Markus, who tweeted under the pseudonym Shibetoshi Nakamoto on Twitter, also surpassed one million Twitter followers, making him one of the most popular cryptocurrency founders. Musk, who has 72.8 million followers, also benefited from this process. Australian programmer Jackson Palmer, who co-created DOGE with Markus, has 41,600 followers.
WhaleStats reports that the top 1000 BNB wallets hold 323,502,178 Dogecoins worth $46,481,982. Investor interest in DOGE arose after Tesla confirmed that it would accept Dogecoin (DOGE) as a legal payment method for some of its products. Elon Musk shared this good news on January 14. This announcement caused a mixed reaction from the crypto community. In particular, supporters of Bitcoin criticized the prioritization of Dogecoin.