Dogecoin currently has an average transfer fees of $0.029. Here’s how the network compares against some of the other top coins in this metric.
Dogecoin Compared Against Other Assets In Transaction Fees
In a new post on X, the market intelligence platform IntoTheBlock has shared an infographic for how the average transaction fee compares between the various top networks in the sector.
The transfer fee here naturally refers to the amount that any sender on the blockchain has to attach with their transactions as compensation for the chain validators. How much fee the average investor would be willing to pay with their moves comes down to the conditions present on the network at the time.
When the blockchain is receiving a high amount of traffic, the average fee can register an uptick. This is because of the fact that the network only has a limited capacity to handle transactions, so the validators prefer to process the moves offering the highest amount of payment first.
Investors who want to get their moves through as soon as possible have no choice, but to attach a higher-than-average fee. As senders compete against each other in this manner, the average on the network can easily blow up if traffic is especially high.
While investors have to pay up during congested periods, they have no incentives to do so when the network activity is low. Thus, the fee tends to fall off in such conditions.
Now, here is the infographic posted by the analytics firm that shows the latest value of the average transaction fee for eight networks: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Tron (TRX), Toncoin (TON), Litecoin (LTC), Avalanche (AVAX), and Bitcoin Cash (BCH).
Looks like LTC is currently offering the lowest amount of fees | Source: IntoTheBlock on X
From the table, it’s visible that Ethereum is the most expensive network out of these right now, with its investors having to pay a fee of $4.84 on average. Bitcoin investors have to pay a significantly less amount, but the chain’s average of $1.5 is still quite high compared to the other coins on the list.
Dogecoin, Avalanche, Bitcoin Cash, and Toncoin each offer a similar transaction cost lying between $0.024 to $0.032, which, when considering how large their transaction volume can be, is quite negligible. Tron is on the more expensive side with an average fee of $0.24, but it’s still obviously much lower than that for BTC and ETH.
Among these altcoins, Dogecoin naturally stands out, considering that the memecoin has a much larger market cap and thus, is bound to attract a higher amount of traffic.
The most impressive network on the list, though, is undoubtedly Litecoin, as investors making moves on the chain only have to pay an average fee of $0.0051.
DOGE Price
At the time of writing, Dogecoin is floating around $0.346, down more than 10% over the last seven days.
The trend in the price of the memecoin over the last day | Source: DOGEUSDT on TradingView
