The meme saga that began with Dogecoin (DOGE) took the crypto industry by storm just this year, and some competitors like Shiba Inu have now overtaken it. However, not everyone has succeeded in sparking interest in König, as Doge miners set a new sales record last month.
According to the latest data from analyst firm CoinMetrics, on November 13, total sales of DOGE miners topped $ 1 billion for the first time, indicating continued activity in the meme community.
Notably, a significant increase in mining revenue was recorded this year alone, even if Dogecoin has been around since 2014.
Around May of this year, there was a significant spike in revenue before total mining revenue fell below $ 100 million.
This 10x increase is due not only to the growing capital inflow into the crypto industry, but also to the significant popularity and attention that Dogecoin received during this period.
The rise in miner income also coincided with the rise in prices for DOGE in the broader market, which surged sharply in April and May of this activity.
However, the asset’s price has remained in a downward spiral since it last hit an all-time high on May 8 when it changed hands at $ 0.73.
The digital asset, which was worth $ 0.16 at press time, is up 5294% from a year ago. Tesla CEO Elon Musk, who often maintains the cryptocurrency on social media, has significantly contributed to its massive growth during this time.
Other supporters include billionaire Mark Cuban and the resilient doge community that has kept them alive over the years.
Its popularity is also evidenced by the search history recently published by Google. Dogecoin was one of the 4 most popular news-related terms in Google searches in 2021.