Here’s how Dogecoin (DOGE) and Shiba Inu (SHIB) compare to the top coins in the cryptocurrency industry in terms of “active addresses.”
Dogecoin and Shiba Inu compared to others in the number of active users
In a new job on active addresses.
An address is said to be “active” when it is involved in some sort of transactional activity. The recipient and sender of a transfer become active at the time of the transaction.
The unique number of active addresses can be considered the same as the daily number of users on the network. As such, the value of the metric can tell us whether the blockchain is currently seeing high traffic.
The chart below shows the current value of this indicator for some of the leading assets in the sector.
Looks like Tron is at the top of the list at the moment | Source: IntoTheBlock on X
As we can see, Dogecoin sits right in the middle of this list, with 56,980 daily active addresses. However, Shiba Inu currently has significantly fewer daily users, as it is second to last on the list with 6,770 active addresses.
Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and Tron (TRX) are all above DOGE by a wide margin as well. Interestingly, TRX is by far the most active network on the list currently, as its value of 2.26 million for the metric is 4 times that of the next best, BTC.
The large number of daily active users of TRX suggests that blockchain transactions are more preferred than other top cryptocurrencies on the list.
Under post X, some users asked IntoTheBlock why Solana (SOL) is missing from the list. According to the analytics company, the reason is that their tools do not support the SOL network.
Nonetheless, IntoTheBlock noted that data from another source implies a daily active address count of 1.5 million for Solana. With Bitcoin’s number of active users tripled, this would place the coin second below TRX and put Dogecoin and Shiba Inu in another place.
Naturally, the high value of the SOL network indicator suggests that cryptocurrency is also a very popular option among users for blockchain-related activities.
It would appear that although memecoins have managed to gain popularity among investors and increase their popularity, market capitalization but they haven’t yet caught up in terms of network-related measures like this.
DOGE Price
Dogecoin has now fallen to $0.157 after seeing its price drop by over 3% in the last 24 hours.
The price of the coin appears to have been going down over the last few days | Source: DOGEUSD on TradingView
Featured image from Shutterstock.com, IntoTheBlock.com, chart from TradingView.com
