Dogecoin (DOGE) Reaches All-Time High in This Metric, Price Goes Green

Tue, 05/23/2023 - 15:58
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Major DOGE-themed Twitter account @Tdogewhisperer has published data, indicating that the original meme coin DOGE has reached a historic peak in daily transactions over the past 24 hours.

Dogecoin saw 1.4 million transfers, according to the charts.

Dogecoin’s low transaction fees

As DOGE’s biggest fan Elon Musk stated recently, he believes Dogecoin to be a much better fit for payments and transactions than Bitcoin. Transfer fees are tiny compared to the flagship digital currency.

A good example here is the transfer of 178,500,000 DOGE conducted by anonymous whales around 18 hours ago. The transaction fee for this $13,079,409 worth of DOGE was a mere $0.08, according to @DogeWhaleAlert.

Currently, DOGE price is making attempts to rise, going up by merely 0.1% and showing a 1.34% weekly growth. About a week ago, Elon Musk commented on a DOGE-themed tweet, which coincided with a growth of more than 3% printed by the meme coin.

As of this writing, the original meme cryptocurrency is trading at $0.07301, according to the figures provided by CoinMarketCap.

Other meme coins trying to compete with DOGE

Over the past two months, the market witnessed “the awakening of meme coins”, when many meme-themed cryptocurrencies flowed into the market. The most popular one was PEPE coin inspired by the popular Internet meme about Pepe the Frog. It was created and launched by a team of anonymous developers in April and attracted a lot of attention and money from investors.

Many, as reported by U.Today, made millions of dollars trading this meme coin. Elon Musk mentioned it in his recent tweet.

Another meme cryptocurrency that got the attention of many and was also pumped by a meme posted by Twitter boss was Milady Meme Coin (LADYS). Currently, the wave of the meme coin craze seems to be going down, so both PEPE and LADYS, which have seen a spree of listings on major exchanges, are trading in the red. The latter is 13% down within the past 24 hours.

SHIB Burn Figure Jumps 2,372% as Shiba Inu Price Begins to Revive

PEPE and LADYS fade before Shiba Inu

The second largest meme token by market capitalization value, SHIB, remains unfazed by the short-lived successes of PEPE and LADYS.

The developer team of Shiba Inu led by Shytoshi Kusama are preparing the launch of the Shibarium mainnet, SHIB cold wallet and SHIB metaverse, showing that SHIB is more than just a meme coin and has a lot of utility.