On-Chain Data Continues to Increase in Dogecoin

On-chain data continues to increase in popular cryptocurrency Dogecoin. So what does that mean? Here are the details...

According to on-chain data on popular cryptocurrencies Dogecoin, whales buy DOGE at low prices. Smart contracts are one of the ways to determine the actions that take place in a cryptocurrency. According to the data, Dogecoin ranked 7th among cryptocurrencies with the highest on-chain interaction. The most popular meme coin DOGE ranks alongside cryptocurrencies like Binance Smart Chain, Binance USD, and Chia Coin. The increase in smart contract activity of Dogecoin also points to an increase in purchasing activity. Because, in order for a project to be active in smart contract activity, users must have a certain amount of tokens. An increase in on-chain data in Dogecoin means more users own Dogecoin, but a drop in price shows the opposite. According to CoinMarketCap data, DOGE has lost 10% in value in the last 24 hours.