Dogecoin Price Rises Amid Increasing Number of Transactions

The launch of the DRC-20 tokens last week was the main driver of increased transaction activity on the Dogecoin blockchain.

With this new token standard, users can create digital assets. The average daily number of transactions in the network has surpassed the one million mark, reaching an all-time high.

Last Wednesday, 1.1164 million transactions were completed. Additionally, the number of active addresses in the network rose to 67,000. As a result, the DOGE exchange rate rose to $0.074, and the capitalization per day increased by 1.95% to $10.342 billion.

These figures are still far from the local peak set in April 2021 ($0.096). Dogecoin has outperformed the Bitcoin and Litecoin blockchains, processing an average of 579,260 and 363,885 transactions per day, respectively.