Billy Marcus, the IT engineer who co-created the popular cryptocurrency Dogecoin as a satirical spinoff of Bitcoin in 2013, recently witnessed a significant surge in DOGE transactions, leading to a substantial increase in its price. In a tweet, Marcus pointed to a major reason for this surge: an anonymous DOGE account with an impressive 346,400 followers on the X platform shared a screenshot showing a massive spike in Dogecoin transactions, surpassing one million.
Marcus, also known as Shibetoshi Nakamoto on X, suggested that the active use of the Dogecoin blockchain for transferring arrangements and coins is likely the primary driver behind this surge. Within the Dogecoin community, DOGE Ordinals, known as “Doginals,” have been created thanks to the recently launched DRC-20 token standard on the Dogecoin chain. This allows users to create cryptocurrency tokens and NFTs on this blockchain, as Marcus highlighted in his comment.
While Dogecoin is the first major blockchain to enable the launch of NFTs and tokens through ERC-21 and ERC-20 standards, other chains like Solana have also introduced similar functionalities. More recently, the Bitcoin chain has started providing tools for creating NFTs (Ordinals) within this space. Since joining the Dogecoin network about five months ago when DRC-20 was launched, the significant increase in transactions on the DOGE chain reached two million transactions in a single day.
Billy Marcus personally thanked Elon Musk, the founder of Dogecoin and a prominent holder of the cryptocurrency, on X. They often exchange comments on the platform and seem to be on the same page regarding various topics and issues. Marcus frequently supports Musk and his inEchotions on X, as he is a frequent user of the platform and Musk has introduced several features that allow creators to enhance their content industry (such as long reads and live video streaming) and even monetize it with income and subscription features.
On Friday, Marcus tweeted that the community should support the X app as much as possible because Elon Musk is doing his best to protect freedom of expression within it. He received a comment from the owner of X, who thanked the co-creator of DOGE and addressed him by name for the first time, making it seem like this gratitude was personal for Musk this time.
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