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At press time, the market leader’s price stood at $26,355.06 following a 0.38% gain.
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Dogecoin’s rising transaction volume coincided with a period of increasing hashrate — up 38% in May.
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According to Minerstat data, Dogecoin’s hashrate jumped to 934.03 TeraHash per second (TH/s) from 660.61TH/s recorded on May 1.
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The increasing network activity has raised concerns among some community members, who argue that it could lead to network congestion and negatively impact Dogecoin’s primary goal of providing an efficient, low-cost, and accessible means of everyday transactions.
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