Investors are More Enthused by Memecoins Despite Rising Dogecoin Activity
Dogecoin is experiencing a surge in daily transactions as the DRC-20 token arrives on its blockchain, allowing for simple smart-contract-powered tokens to be issued directly on the platform. Prior to this surge, Dogecoin typically saw around 20,000 transactions per day, but it has now hit a record high of over 1.1 million. However, the surge in transactions has not resulted in an upside for the Dogecoin price, which has suffered monthly losses of around 9%. Investors may be losing interest in this meme coin, preferring smaller-cap, newer, and lesser-known meme coins for the chance of exponential gains. Business 2 Community has named several such tokens, including Copium Token, which has seen explosive gains in its early life; AiDoge, which incentivizes users to generate and share memes using its platform; SpongeBob token, another meme coin that has done well; and Milady (LADYS), which saw a surge in market cap after Elon Musk’s recent tweet about it.
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