Dogecoin’s Daily Transactions Hit Record High, Outpacing BTC and LTC
Dogecoin has seen a surge in daily transaction volume, reaching an all-time high of 650,000. This is higher than both Bitcoin and Litecoin, and is attributed by some to the trend of cramming tokens and assets onto the Dogecoin blockchain. There are mixed reactions to the news, with some expressing excitement and others scepticism. Some are doubtful that people are trying to cram tokens onto the Dogecoin blockchain, while others have called on the DOGE community to prove that the blockchain can handle what Bitcoin couldn’t. Additionally, crypto enthusiast Martin Stauber contests the previous claim that users are cramming tokens onto the Dogecoin network, reporting that transaction data shows the traffic is coming from a few wallets with massive transaction counts instead. This surge in on-chain activity builds on previous reports of increased on-chain activity in the early part of the year. This was attributed to whale transactions and active addresses. The DOGE network saw 86.4k active addresses, representing the highest two-day streak of daily active addresses since November.