With Introduction of ‘DRC-20’ Tokens, Dogecoin’s Daily Transactions Reach All-Time Highs
The cryptocurrency Dogecoin briefly surpassed Bitcoin and Litecoin in transactional volumes earlier this week. This comes as a surprise as Dogecoin is often seen as a joke currency, originally created as a meme in 2013. However, it has gained popularity in recent years and has even been endorsed by celebrities such as Elon Musk and Snoop Dogg. Despite its lighthearted origins, Dogecoin’s transactional volumes have been steadily increasing and it currently has a market capitalization of over $40 billion. Nevertheless, many experts caution investors against putting too much stock in Dogecoin’s success, as it lacks the same level of development and infrastructure as other cryptocurrencies. Additionally, its value is largely based on hype rather than any concrete technological advancements. Despite this, some investors are still bullish on the currency and see it as a potential “altcoin” that could compete with Bitcoin and other major cryptocurrencies.