Dogecoin Daily Transactions Rise By 35% While Bitcoin Marked A Decrease

  • After a huge dropdown of Bitcoin’s daily transactions through March and April, a noticeable increase was seen in Dogecoin.
  • Dogecoin is a unique, open-source peer-to-peer digital currency and till now it does not take part in halving events.
  • Some speculators often associate the increase in DOGE prices with unconventional periods.

After a huge dropdown of Bitcoin’s daily transactions through March and April, a noticeable increase was seen in Dogecoin. Though, the reason behind this sudden increase is yet unidentified.

As seen in February, the daily transaction of DOGE was around 24,000. While the number increased to 32,000 daily transactions as of April 12. This is a clear cut increase of 35%.

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Dogecoin is an approachable alternative to Bitcoin

Dogecoin is a unique, open-source peer-to-peer digital currency and till now it does not take part in halving events. Originally the DOGE was introduced as a joke but eventually, it was found an approachable alternative to Bitcoin.

In February 2015, DOGE has experienced a decrease, and now, it continues to attract miners which can be evidenced by its active network.

However, due to the fluctuating market and the pandemic attack globally, the Bitcoin market almost depleted in its daily transactions from 316,000 on Feb. 20 to 228,000 on April 12.

Dogecoin is a secured platform

Some speculators often associate the increase in DOGE prices with unconventional periods. Apart from the origin as a joke coin, it is also a secure platform. Last year it was noticed that DOGE is ranked as the third most resilient cryptocurrency in a possible 51% attack after Bitcoin and Ethereum.

At the time of writing, the coin has a relative increase of 0.52% with a market capitalization of $242,892,127 USD and a circulating supply of 124,150,800,692 DOGE. It has improved its trading volume as compared to last year.

Early in April, a trading platform Bitpanda moved on Twitter shared the winner of an event pertaining to the best VIP coin vote, and according to the poll, Dogecoin was the winner with around 30% of the total vote. Soon Bitpanda is going to add DOGE in its platform.

 

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Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.

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