Dogecoin recent
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Dogecoin recently achieved a historic milestone by surpassing Bitcoin and Litecoin in daily transactions, reaching a remarkable record of 650,000 transactions. This surge in network activity is attributed to the widespread adoption of the DRC20 token standard within the Dogecoin community.
The increased on-chain activity in the Dogecoin network highlights the growing popularity of memecoins in the cryptocurrency market. One memecoin that has gained significant attention is PEPE, which experienced a staggering price surge of 1,200% between the end of April and May 5.
The rising interest in memecoins can be attributed to their appeal to a broader audience and the significant attention they receive on social media, often driven by influential individuals. Elon Musk, in particular, has been a prominent figure in this regard, with his acquisition of Twitter and his fondness for memecoins like DOGE. Musk's actions and tweets have had a substantial impact on the crypto markets, as seen on February 15, when one of his tweets triggered a rally for both Dogecoin and Floki.
