Tuesday, August 16, 2022

Dogecoin miner revenue hit an all-time high in November.

The Takeaway:

Dogecoin miners set a new all-time revenue record in November 2021, according to the most recent statistics from the data analytics website CoinMetrics.

The meme-based cryptocurrency Dogecoin miners set a new all-time revenue record in November 2021, according to the most recent statistics from the data analytics website CoinMetrics. On November 13, 2021, total all-time miner revenue surpassed $1 billion for the first time, as cryptocurrency miners continued to reap the benefits of the popular meme coin cryptocurrency.

 

Dogecoin has seen a significant increase in mined income this yea.

Dogecoin has seen a significant increase in mined income this year, with the total amount presently standing at $1.08 billion as of the latest data recording from the site on December 9. The chart above reveals the sum of USD value of all miner revenue, including fees and newly issued native units. The total revenue of Dogecoin mined on January 1 was $108 million. Still, as the asset gained popularity and attracted public attention, the revenue mined has increased tenfold since then. Interestingly, the total mined income for Ethereum is $18 billion currently, which is eighteen times the amount of revenue generated by Dogecoin.

 

Dogecoin is now trading at $0.1685.

At the time of writing, Dogecoin is trading at $0.168, down 0.94% in the past 24 hours and up 1.06% over the previous week. The meme-based cryptocurrency has been on a downward trend since achieving an all-time high of $0.7004 on May 8, according to CoinMarketCap statistics. Due to growing inflation and economic concern, the cryptocurrency market has seen an extraordinary increase year-to-date, resulting in Dogecoin being among the top ten trending news-related terms on Google Search in the year 2021. Most notably, celebrities like Elon Musk, the CEO of Tesla, who had pushed Dogecoin via his Twitter account as a joke, had a role in its meteoric rise in 2021.

Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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