Dogecoin has recently seen a meteoric rise since the start of 2021 until recently when other meme tokens, such as Shiba Inu and Flamingo, gained more traction. Shiba Inu has seen remarkable activity in its transactions over the past few days with an unknown wallet transferring 3,504,812,794,902 SHIB tokens within an hour, making it one of the biggest transfers ever made on the network. The Shiba Inu network also witnessed a record high in the number of daily transactions on April 1st. This is being attributed to the ongoing Dogecoin bull run and crypto influencers citing the meme coins to bring in new retail investors and increasing adoption. Despite the high transaction volumes, the network remains secure with no issues and the whales appear to be controlling their behavior, possibly indicating a more stable future for the non-traditional cryptocurrencies.
Emma Myers
- 2023-04-04
Dogecoin Market Remains Stable Despite Meme Token Activity
The Dogecoin market has seen a meteoric rise since the start of 2021, but other meme tokens such as Shiba Inu and Flamingo have seen more traction lately. The Shiba Inu network experienced record high daily transactions on April 1st and despite the high transaction volumes, the network remains secure with the whales in control.
