The Surge in Dogecoin Transactions Outpaces Bitcoin and Litecoin Due to the Dogecoin Mania

Dogecoin’s network activity reached an all-time high with a tenfold increase in daily transactions, surpassing Bitcoin and Litecoin briefly. The surge in activity was recorded after the introduction of the DRC-20 token standard, which allows developers to create tokens that use Dogecoin for network fees. Supporters believe this will increase Dogecoin utilization and open the door for potential decentralized finance (DeFi) services. Critics, however, suggest that this may lead to network congestion and higher fees, making the network expensive and slower for regular users, hindering cryptocurrency adoption. The Securities and Exchange Commission (SEC) is reportedly targeting Coinbase in regulatory action.

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About The Author

Niels I have been passionate about dogecoin since 2019, and have since become an avid follower and advocate of the cryptocurrency. I keep a close eye on the Dogecoin market and trends, and I'm always up-to-date with the latest news and developments. As a true believer in the potential of dogecoin, I am excited to be a part of the growing community and I'm eager to share my knowledge and experience with others. When not busy with dogecoin, I enjoy golf, and I can often be found on the golf course.

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