Daily Transactions On The Doge Network Hits Record High Because Of “Doginals”
Just like Bitcoin ordinals, Doge ordinals are also gaining huge popularity in the crypto sector.
Dogecoin is a popular meme coin, launched by Billy Markus & Jackson Palmer in late 2013. Dogecoin was not much popular before 2020 but Tesla CEO Elon Musk jumped in support of this coin & turned it into a flagship crypto asset. After the popularity of Dogecoin, the crypto market saw an inflow of huge numbers of meme tokens.
Just like Bitcoin Ordinals & BRC-20, some groups of people introduced Doge Ordinals or say Doginals. The functionality of Doginals is identical to Bitcoin ordinals, which means people can mint new crypto tokens inscribed by the Dogecoin network.
As we know the Bitcoin ordinals concept grabbed huge popularity and also Bitcoin network saw an increment in the transaction traffic for useless meme tokens & NFTs, so many Dogecoin proponents jumped against the Doginals concept.
The comparison data available on Bitinfocharts showed that the Dogecoin network surpassed Bitcoin by on-chain transactions.
Elon Musk on new Dogecoin trend
Tesla CEO Musk is a very big fan of Dogecoin and it will be interesting to see the response by him over the increasing Dogecoin use case because of Doginals like garbage concept.
Earlier this, first-time “Doginals” word came from Dogecoin co-creator Billy Markus in Feb of this year, where he said that he will purchase Doge images ( NFTs) for free.
Dogecoin price action
The current trade price of Dogecoin is $0.073 & this trade price is 1.27% high than the last 24 hours’ trade price.
Read also: France welcomes American crypto companies amid unclear regulatory environment in the US
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