Cryptocurrency

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Markus Hopes Dogecoin 2014 Data Returns

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Dogecoin co-creator Billy Markus tweeted on Saturday, displaying on-chain data from 2014 for the meme coin. According to data from 2014, Dogecoin had around 100,000 transactions per day and Bitcoin was sitting at only 50,000 per day. Markus tweeted that he wanted to see those same kinds of advantages for Dogecoin in the future. However, Bitcoin is outperforming Dogecoin on several levels. Bitcoin currently has an average of 220,000 transactions per day while Dogecoin has around 25,000–meaning that the majority of DOGE’s trading volume and buying power is driven by retail traders and investors. However, Ethereum has eclipsed both tokens by ringing in around 1 million transactions per day. While Dogecoin use cases are increasing with help from social media and influencers, the token has struggled to keep its value steady in this uncertain market. At press time, Dogecoin was trading at 12.41 cents, down nearly 2.5% in early activity.

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