IT engineer Billy Markus, who created Dogecoin with Jackson Palmer in 2013 dogecoin He shared his insight into why transactions hit a daily record of more than a million earlier this week. Following this increase in transactions, there was also a significant increase in DOGE prices.
The Reason for the Increase in Dogecoin Transactions
@itsALLrisky, an anonymous DOGE-themed account with an impressive 346,400 followers on the X platform, shared a screenshot showing a huge increase in Dogecoin transactions – surpassing 1 million. Data provided by Blockchair confirms this DOGE record.
Billy Markus, who uses the pseudonym Shibetoshi Nakamoto in X, suggested that the most likely reason for this is that the Dogecoin chain is actively used to transfer Ordinals and s-coins.
Within the Dogecoin community, DOGE Ordinals are known as “Doginals” and are created thanks to the DRC-20 token standard recently launched on the Dogecoin chain. Now users are on this blockchain crypto- They will be able to create tokens and NFTs. This is what Markus was referring to in his comment.
While it is the first major blockchain to allow the issuance of NFTs and tokens through ERC-21 and ERC-20 standards. This was followed by other chains such as Solana and others that launched similar functions. Not so long ago, the Bitcoin chain also began providing tools for creating NFTs (Ordinals). About five months ago, the Dogecoin network also joined this group. In June, when DRC-20 was launched, transaction growth on the DOGE chain exceeded 2 million in a single day.
Elon Musk Personally Thanking DOGE Co-Founder
Koinfinans.com As we reported, Elon Musk, a vocal Dogecoin fan and major owner, is known to have an “Internet friendship” with DOGE creator Markus. They frequently exchange comments about application X. They seem to be on the same page about various topics and issues. Billy Markus frequently supports Musk and his X innovations. Because he is a frequent user of this platform and Musk has introduced various tools that allow creators to improve their content production and also earn some profit from it.
On Friday, Markus tweeted that the community should support app X as much as possible, as Elon Musk is doing his best to protect free speech. He then received a comment from X’s owner, in which he thanked the DOGE co-founder and called him by name for the first time. This created the impression that this gratitude was personal for Musk this time.