According to new data, meme token Dogecoin (DOGE) outlived the bulk of other crypto currencies introduced in 2014.
According to a new survey conducted by the cryptocurrency-focused website CoinKickoff, 91% of digital assets issued in 2014 are now dead due to a lack of interest.
However, the study finds that DOGE persisted and was able to carve out its own market niche.
CoinKickoff gathered 10 years of data on 2,400 deceased crypto assets found on dead coin tracking service Coinopsy and compared it to CoinMarketCap’s yearly snapshots of each asset to reach this conclusion.
“According to our research, 91% of coins launched in 2014 died due to low transaction volume or abandonment. Many opportunistic attempts to corner the early crypto market failed, with the noteworthy exception of meme currency Dogecoin.”
Dogecoin is presently trading for $0.086 and is the ninth-largest crypto asset by market capitalization.
According to the study, over 75% of tokens produced in 2014 are entirely dead and no longer in circulation, while only 16 digital assets have been abandoned since 2020.
According to our analysis, more than half of all coins introduced each year between 2013 and 2018 no longer exist. More than three-quarters (76.5%) of the currency launched in 2014 as part of cryptocurrency’s first significant surge are now extinct…
However, current statistics indicate that currencies are losing interest less regularly, with only 16 coins removed from the market owing to a lack of investment since 2020.”
According to the report, 2018 was crypto’s “most lethal year,” with 751 tokens becoming obsolete. According to the survey, 30% of the cryptocurrencies were frauds.