As Dogecoin reached a new all-time high of 719,000 daily transactions, driven by the launch of the DRC-20 standard enabling meme coin creation, concerns arise about its sustainability. Dogecoin core developer, Patrick Lodder, warns that under-engineering and lack of functionality might lead to a quick demise of the trend.
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Dogecoin’s Price Surge: Understanding the Golden Cross, NFTs, and Future Predictions
Dogecoin (DOGE) price has risen by 2% in the past 24 hours amid increased demand and all-time high transactions on its blockchain, largely driven by new DRC-20 tokens. The ‘golden cross’ indicator suggests a possible breakout for DOGE, while its potential as a more useful vehicle for NFT minting than Bitcoin could further bolster its price.
Dogecoin Surpasses Bitcoin in Transaction Volume: Scalability Opportunity or Congestion Risk?
Dogecoin (DOGE) has experienced a significant increase in daily transaction numbers, surpassing Bitcoin, primarily due to the growing interest in minting DRC20 tokens. This highlights Dogecoin’s scalability and potential for global acceptance, but also raises concerns about network congestion and the need for dedicated Layer-2 solutions.