Dogecoin Network Hits New Peak in Transfer Activity

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Dogecoin (DOGE) community’s prominent figure Tdogewhisperer announced on their personal X account that the largest memecoin has reached a new peak in transfer activity. Tdogewhisperer reported that 1.9 million transfers have been made on the Dogecoin network in the last 24 hours.

New Peak in Dogecoin Network Transfers

Tdogewhisperer shared from their personal X account that the Dogecoin network has reached a new peak with 1.9 million transfers. The leading figure of the Dogecoin community mentioned that this record was mainly achieved through images minted via inscriptions on the Blockchain. It is known that the outputs provided by the inscription protocol that allows image minting on a Blockchain often inflate the networks. Despite the high figures reflected in the metrics, the outputs provided by the inscription protocol do not have a real use case.

Tdogewhisperer wrote that there has been a rapid increase in the size of a file that can be transferred on the Dogecoin Blockchain, reaching 110 GB. They highlighted that if this increase continues, it could limit users’ ability to run their own nodes. This situation would make hosting a single node more expensive and slow down the entire network when used for something more valuable than image transfers.

The majority of users see DOGE as a currency and use it for that purpose (not for sending files or writing images via the network), so keeping the Blockchain operational and hosting nodes should be easy.

Furthermore, Tdogewhisperer added that many people suggest using a Layer 2 network called Dogechain for inscription transactions. The Dogecoin community has been divided into those who liken these images minted through inscriptions to NFTs and those who see them as bloatware or spam.

Max Keiser Criticizes DOGE, Invites Elon Musk to El Salvador

Bitcoin maximalist Max Keiser targeted Dogecoin in two tweets. He claimed that DOGE is a junk coin and security, as he has previously attacked XRP, SOL, ADA, and other major altcoins.

Keiser stated that trading DOGE is not illegal in El Salvador, where he lives and works as a Bitcoin advisor to President Nayib Bukele, as long as it is not classified as a security. The Bitcoin maximalist also invited the world’s richest man and Dogecoin’s biggest supporter Elon Musk to El Salvador to explore the opportunities the country offers.