Since the introduction of Dogecoin into the crypto community, it has grown massively, standing out among several other digital coins. Dogecoin has garnered the attention of crypto enthusiasts, such that investors have predicted a surge in value in the next bull run.
If you are wondering why Dogecoin is worth the heightened interest, read this article further. You will discover what Dogecoin-based assets are and why they could be responsible for Dogecoin’s increased popularity.
Understanding Dogecoin-based Assets
This section of the article covers the essential information about Dogecoin and its assets. This includes the recent and ongoing performances.
What Are Dogecoin-based Assets?
Dogecoin-based assets are tokens or digital assets that developers build on the Dogecoin blockchain. We can also say these assets use Dogecoin’s network. A popular example is the DRC-20s token.
The DRC-20s innovation was birthed by Dogecoin users, who imitated the ordinals structure of Bitcoin. Also, the DRC-20s tokens are similar to NFTs but without the smart contract.
Dogecoin’s Recent Outstanding Performance
According to research, Dogecoin experienced a significant increase of 140.5% in early 2024, reaching an all-time high (ATH) of $0.7376. Meanwhile, further research also revealed that Dogecoin recorded 719,000 daily transactions in 2023, surpassing Bitcoin’s 566,000 daily transactions. The reason for the token’s rapid increase is that Dogecoin’s new ordinals, DRC-20s, were introduced during that time.
Why the DRC-20s Token Gained Popularity
DRC-20s tokens gained popularity for several reasons but are more popular for allowing the creation and ownership of unique digital assets on the Dogecoin blockchain. Also, minting DRC-20s doesn’t come with any significant risk due to its low fee structure. For more information on how to mint one of these bad boys, follow the instructions on this tweet.
What is the DOGE NFTs Market Looking Like?
DOGE NFTs is a wide and diverse ecosystem with various collections of rarities and values. A perfect example is the Doge Rocks collection, which showcases items with different prices, ranging from 1,400 to 5,600 Doge. More so, DRC-20 tokens have recorded a massive market cap of over $1.69 billion.
With the wide price range and huge market cap, interested parties can truly participate in the ecosystem, since DOGE NFTs provide entry points for investors of various needs.
Conclusion
As Dogecoin evolves, its assets play a pivotal role in creating opportunities for wise and timely investors. This cryptocurrency has successfully carved out a niche in NFT markets, allowing investors and crypto enthusiasts to boost their portfolios successfully. Nevertheless, we encourage investors to take caution with their decision making, considering that the crypto market is exposed to rapid changes.
The post Dogecoin’s Low-Fee DRC-20s: Attracting Investors Worldwide appeared first on YourCryptoLibrary.
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