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Dogecoin records 2 million transactions surpassing Bitcoin and Ethereum in 24 hours

Since introducing DRC20 tokens, the digital currency has seen a remarkable increase in daily transactions, surpassing even Bitcoin and Ethereum.

On May 27, 2023, Dogecoin set a new record with over 2 million transactions in 24 hours. The rise in activity can be attributed to the introduction of "Doginals," which are similar to Bitcoin's BRC20 tokens. Additionally, Dogecoin's hashrate has increased by over 38% since early May, indicating a growing network strength, partly due to its compatibility with Litecoin's "merge mining."

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