Dogecoin and Shiba Inu Active Addresses Compared to Top Cryptos

Dogecoin vs. Shiba Inu

The infographic highlights that Dogecoin (DOGE) has 56,980 daily active addresses, placing it in the middle of the list. In contrast, Shiba Inu (SHIB) has only 6,770 daily active addresses, positioning it second last among the top cryptocurrencies analyzed.

Top Cryptos by Active Addresses

Other leading cryptocurrencies significantly outperform both DOGE and SHIB in terms of daily active addresses. Tron (TRX) leads the pack with 2.26 million active addresses, four times that of the next best, Bitcoin (BTC). Bitcoin, Ethereum (ETH), and Litecoin (LTC) also show substantially higher user activity compared to the meme coins.

Solana’s Absence and Potential Impact

Some users questioned the absence of Solana (SOL) from the list. IntoTheBlock explained that their tools currently do not support the SOL network. However, another source estimates Solana's daily active addresses at 1.5 million, which would rank it second after TRX, further pushing down Dogecoin and Shiba Inu.

Meme Coins' Popularity vs. User Activity

Despite their popularity and high market capitalization, Dogecoin and Shiba Inu lag behind in network activity metrics. This suggests that while they have a strong following among investors, they are yet to achieve similar levels of transaction activity as the top-performing cryptocurrencies.

DOGE Price Update

As of now, Dogecoin is trading at $0.157, having experienced a price drop of over 3% in the past 24 hours. This recent dip highlights the volatility and ongoing challenges faced by meme coins in maintaining their market positions.

Conclusion

Dogecoin and Shiba Inu have made significant strides in popularity but still have a long way to go in terms of daily active addresses compared to major cryptocurrencies. The data suggests that while these meme coins attract many investors, their actual blockchain usage remains relatively low.