A new milestone has passed for the meme token Dogecoin (DOGE). According to the latest data from CoinMetrics, total miner revenue in Dogecoin surpassed the $1 billion mark for the first time on November 13.

Although Dogecoin has been around since 2014, the significant increase in mining revenue has only been noticed this year. In the chart below, the sum of all miner revenues includes both transaction fees and newly mined coins.

According to the chart, a noticeable increase in revenue was observed only in May 2021. Prior to this, the total revenue of DOGE miners was always under $100 million. In other words, it can be said that the income has increased 10 times in 7 months. This increase can be attributed to the rise in capital flowing into the cryptocurrency space, as well as the popularity and attention DOGE has gained during this time.

DOGE All Time Miner Revenue USD

The increase in miner revenue parallels the increase in Dogecoin price. This acceleration in price took place in April and May. In fact, the popular meme coin hit an all-time high of $0.78 on May 8. It is observed that the popularity of the altcoin is seen as a huge profit by these miners, resulting in a significant increase in mining activity.

Total miner revenue for the leading altcoin Ethereum is currently $18 billion, equivalent to eighteen times the amount of revenue generated by Dogecoin miners. However, the market difference between the two altcoins should not be ignored.

DOGEUSD_2021-12-12_01-35-24

The meme token Dogecoin (DOGE) is one of the eight most popular cryptocurrencies among Binance Smart Chain whales, according to data from WhaleStats. According to the latest data, Dogecoin accounts for 2% of the total assets of BSC whales. Dogecoin assets are worth around $200 million.

The overall performance of Dogecoin is measured by periodic pumps. The asset's highest level at $0.30 occurred in October. Elon Musk's influence on Dogecoin's performance was also great.