Bitrabo Editorial
Discover how Dogecoin (DOGE) and Shiba Inu (SHIB) fare against other major cryptocurrencies in terms of active addresses.
Analysis of Active User Count for Dogecoin & Shiba Inu Compared to Other Cryptocurrencies
An infographic shared by IntoTheBlock reveals the current standings of various top cryptocurrencies based on their daily active addresses.
An address becomes “active” when it engages in any transaction activity, involving both the sender and receiver in the process.
The number of active addresses is a reflection of the daily users on the network, indicating the level of traffic on the blockchain.
The chart displays the current value of this metric for some of the leading assets in the cryptocurrency space.
By observing the data, Dogecoin stands in the middle with 56,980 daily active addresses, while Shiba Inu trails with only 6,770 active addresses.
Leading the pack are Litecoin (LTC), Ethereum (ETH), Bitcoin (BTC), and Tron (TRX), all surpassing DOGE by a significant margin. TRX emerges as the most active network with a daily active user count of 2.26 million, four times higher than BTC.
TRX’s substantial user base suggests a preference for blockchain transactions over other cryptocurrencies on the list.
Questions about the absence of Solana (SOL) were raised, with IntoTheBlock explaining that their tools do not currently support the SOL network. However, data from another source suggests 1.5 million daily active addresses for Solana, placing it second after TRX and pushing DOGE and SHIB further down the list.
The high number of active users on the SOL network indicates its popularity for blockchain-related activities among users.
Although memecoins have gained investor interest and increased market capitalization, they are yet to match up in network-related metrics like daily active addresses.
DOGE Price Movement
Currently priced at $0.157, Dogecoin has experienced a decline of over 3% in the last 24 hours.