Dogecoin Overtakes Bitcoin Transactions as DRC-20 Tokens Gain Traction

Dogecoin [DOGE] remained relatively quiet during the ongoing meme coin frenzy, but it recently managed to outperform Bitcoin statistics in a surprising turn of events. The emerging token type has ignited a surge of activity, leading to a substantial increase in daily transactions on the Dogecoin blockchain.

Dogecoin transactions surged following the launch of a new token standard, DRC-20. Transaction volume rose tenfold, with over 645k transactions recorded on Sunday alone. DRC-20 allows for token creation on the Dogecoin network.

The recent spike in Dogecoin activity has been linked to the rise of alternative tokens. Similar to ERC-20 and BRC-20 tokens, a new type of token called DRC-20 tokens has started to gain attention. This sudden surge in activity is credited to the rise of “Doginals,” Dogecoin’s unique take on non-fungible tokens (NFTs), made possible by the new DRC-20 standard.

This sudden increase in activity is attributed to a growing interest in DRC-20 tokens. Similar to ERC-20 and BRC-20 tokens, a new type called DRC-20 tokens has started to attract attention, fueling a boom in Dogecoin transactions and briefly surpassing Bitcoin in transaction volume. The future of Dogecoin and DRC-20 tokens remains to be seen, but the initial impact on the network is undeniable.