The Dogecoin network has set a new record for daily transactions, surpassing even Bitcoin. This increase is attributed to users creating meme tokens using frameworks inspired by Ordinals. These tokens are based on the DRC-20 token standard, which allows users to embed data in shibes, the smallest unit of Dogecoin.

However, the short-term future of meme tokens remains uncertain, as they currently lack a liquid market and well-defined value proposition. Meanwhile, the price of Dogecoin is still looking for a solid level to reverse the trend, with the asset recording a new decline in the 4-hour period.