Look at how Dogecoin Shiba Inu Compare stacks up against the most popular cryptocurrencies on the market right now, measured by the amount of “active addresses.”
Dogecoin & Shiba Inu Compared Against The Others In Active User Count
A new post on X from the market research portal IntoTheBlock features an infographic that ranks the current market position of the top cryptocurrencies according to the amount of daily active addresses. We say an address is “active” when doing anything, like a transaction. Every party involved in a transfer, from the sender to the receiver, participates actively throughout the transaction.
There may be an exact match between the number of unique active addresses in use right now and the number of users on the network daily. We can tell if the blockchain is experiencing heavy traffic by looking at the indicator’s value. The chart below shows the current value of this indicator for some of the most valued assets in the sector.
Dogecoin ranks in the middle with 56,980 unique daily addresses. However, Shiba Inu is second with 6,770 active addresses, indicating fewer daily users. Not only is Donge (DOGE) higher than Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and Tron (TRX). I find it intriguing that TRX has the most activity because its 2.26 million metric value is four times that of Bitcoin, the second-best network.
Blockchain transactions are more preferred with TRX, as seen by the substantial number of daily active users, compared to the other top cryptocurrencies on the list. Some readers of the X post have asked IntoTheBlock why Solana (SOL) isn’t on the list; they found the post helpful. According to the analytics firm, their solutions are incompatible with the SOL network.
IntoTheBlock has seen that data from another source indicates that 1.5 million Solana addresses are active daily. If the coin’s user base were three times larger than Bitcoin’s, it would be surpassed by TRX. In comparison, Dogecoin and Shiba Inu would take a back seat.
Given the high indication value for the SOL network. It’s safe to assume that cryptocurrency is a popular alternative for blockchain-related activities. To all appearances, meme coins have lagged in network-related indicators like this one despite successfully attracting investors and increasing their market value.
DOGE Price
Over the past twenty-four hours, the price of Dogecoin has dropped by more than three percent. Resulting in the cryptocurrency’s current value of $0.157. This fall in price has occurred throughout the market.
