As the overall crypto market experiences a downturn, Dogecoin exhibits significant growth in trading volumes and user interest.
Increase in Dogecoin Large Transaction Volume
Recently, Dogecoin (DOGE) recorded a 41.12% increase in large transaction volume, totaling **$23.35 billion** within just 24 hours, as reported by analytics firm **IntoTheBlock**.
Whale Activity and Its Market Impact
The surge in large transactions indicates that **DOGE whales are becoming active**, which often precedes significant market movements. While whale activity for Bitcoin and Ethereum is declining, Dogecoin is witnessing increased volumes and engagement.
Active Addresses and Investor Interest
The number of daily active addresses for DOGE rose by 34.91%, reaching **157,190**. This reflects a surge in interest from both retail and institutional investors, potentially paving the way for future growth.
Despite the positive on-chain activity signals, DOGE's price remains under pressure, down by 5.9%. Market participants are closely monitoring trends to gauge future actions.
