In the last month, Dogecoin (DOGE) has observed a notable upswing in transactions surpassing the $100,000 mark, coinciding with a substantial surge in the price of this meme-based cryptocurrency.

The abrupt increase in both transaction volume and price suggests a heightened level of interest in Dogecoin, particularly from major financial entities recognized as “whales” and institutional investors.

거래량과 가격 모두의 급격한 증가는 특히 "고래"로 인식되는 주요 금융 기관과 기관 투자자로부터 Dogecoin에 대한 관심이 높아졌음을 의미합니다.

Billy Markus, an IT engineer, co-created the prominent meme-based cryptocurrency alongside Jackson Palmer in 2013. Originally conceived as a satirical imitation of Bitcoin, Markus has recently offered his perspective on the significant surge in daily DOGE transactions, which surpassed 1 million earlier this week.

Dogecoin Transactions Grow

Dogecoin 거래 증가

The increase in transactions on the Dogecoin blockchain has been formally ascribed to an upsurge in trading of meme coins and an escalation in activity associated with Doginals, as verified by Markus, known as Shibetoshi Nakamoto on X.

In response to a community member’s concern over the abrupt surge, Markus provided clarification that the upswing in blockchain transactions is causally connected to the heightened trading activity of meme coins and the active participation of Doginals inside the Dogecoin ecosystem.

갑작스러운 급증에 대한 커뮤니티 회원의 우려에 대해 Markus는 블록체인 거래의 상승이 인과적으로 밈 코인의 거래 활동 증가와 Dogecoin 생태계 내 Doginals의 적극적인 참여와 관련이 있다는 점을 명확히 했습니다.

Dogecoin transactions are going parabolic

Does anyone know why? pic.twitter.com/qBRQGiLhOp

이유를 아는 사람 있나요? pic.twitter.com/qBRQGiLhOp

— (@itsALLrisky) November 24, 2023

#Dogecoin | There’s a notable surge in $DOGE transactions exceeding $100,000 in the past month, consistently hitting new highs.

This uptick suggests increased interest in #DOGE from institutional players and whales, potentially gearing up for a significant price spike. pic.twitter.com/UpxVkfu9hW

이러한 상승세는 기관 플레이어와 고래의 #DOGE에 대한 관심이 높아져 잠재적으로 상당한 가격 급등에 대비할 수 있음을 시사합니다. pic.twitter.com/UpxVkfu9hW

— Ali (@ali_charts) November 23, 2023

— 알리(@ali_charts) 2023년 11월 23일

Meanwhile, the data presented by Blockchair substantiates the record achieved by DOGE. Markus suggested that the primary rationale behind this phenomenon is the active utilization of the Dogecoin blockchain for the purpose of transferring Ordinals and low-value cryptocurrencies.

한편 Blockchair가 제시한 데이터는 DOGE가 달성한 기록을 입증합니다. Markus는 이러한 현상의 주된 근거는 Ordinal과 저가치 암호화폐 전송을 목적으로 Dogecoin 블록체인을 적극적으로 활용하는 것이라고 제안했습니다.

The Doginals experiment was initially introduced in the month of May. During that period, the developers expressed their intention for it to function as a faithful replication of Bitcoin Ordinals. The experiment yielded successful results, which is of notable interest. Users possessed the capability to engrave both images and textual content onto the Dogecoin blockchain.

Doginals refer to the constituent components of Dogecoin, wherein every element represents a distinct entity known as a “Shibe” within the underlying Dogecoin network. These components are further distinguished by the inclusion of additional data, such as textual information or visual imagery.

Overview Of The Doginals DRC20 Standard

The recently introduced Doginals DRC20 standard enables Dogecoin nodes to encode data onto individual Shibe entities, resulting in the creation of a Doginal. The term “Shibe” has a parallelism with the Bitcoin counterparts “Satoshi” or “Sat”.

최근 도입된 Doginals DRC20 표준을 통해 Dogecoin 노드는 개별 Shibe 엔터티에 데이터를 인코딩하여 Doginal을 생성할 수 있습니다. "Shibe"라는 용어는 Bitcoin의 "Satoshi"또는 "Sat"와 유사합니다.

In contrast to Doginals, DRC-20 tokens possess the capability to be exchanged in a manner consistent with conventional cryptocurrencies. The aforementioned S-coins were the subject of Markus’ discourse in his online publication.

The initial development of enabling non-fungible tokens (NFTs) and tokens through the ERC-21 and ERC-20 standards by Ethereum was a significant milestone in the blockchain industry.

Ethereum의 ERC-21 및 ERC-20 표준을 통해 대체 불가능한 토큰(NFT) 및 토큰을 활성화하는 초기 개발은 블록체인 업계에서 중요한 이정표였습니다.

This innovative capability has since been embraced by other blockchain networks, such as Solana.

At the time of writing, DOGE was trading at $0.080, up 2.8% in the last day, and gained 0.2% in the last seven days, data from Coingecko shows.

이 글을 쓰는 시점에 DOGE는 마지막 날 2.8% 상승한 0.080달러에 거래되었고, 코인게코(Coingecko)의 데이터에 따르면 지난 7일 동안 0.2% 상승했습니다.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

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