Recent trends indicate that Dogecoin is surpassing established cryptocurrencies like Bitcoin and Litecoin in terms of transaction volume. The rise in activity is attributed to the increased minting of DRC-20 tokens, which are marketed as a BTC-20 offshoot with comparable features.

Despite the increased activity, Dogecoin's price has remained stagnant, and the cryptocurrency is still 90% away from its all-time high price of $0.73. Commentators suggest that Dogecoin should focus on its use case as a "people's currency" to scale.