According to U.Today, Dogecoin is experiencing a significant increase in market attention, particularly in whale-tier transactions. Over a 24-hour period, 10 billion DOGE were transacted, indicating a high level of activity in the cryptocurrency market. In the last 24 hours, a total of 1.5 thousand transactions were made with Dogecoin. This is a notable increase from the 1.18 thousand transactions recorded on June 9, 2024, and slightly less than the 1.89 thousand transactions on June 7, 2024. This suggests a growing interest and participation in Dogecoin transactions.
The market is also undergoing changes, possibly due to significant news or investor activity. In the last 24 hours, a total of 9.29 billion DOGE transactions were made. This is a significant change from the seven-day high of 27.78 billion DOGE on June 7, 2024, and the seven-day low of 6.84 billion DOGE on June 9, 2024. The substantial volume indicates robust market dynamics. The drop from the seven-day high could be due to profit-taking or wallet rearrangement, reflecting regular market cycles.
In the past 24 hours, $1.33 billion worth of DOGE was associated with large exchanges. This is a significant increase from the seven-day low of $1.01 billion on June 9, 2024, and less than the seven-day high of $4.2 billion on June 7, 2024. These high-level exchanges suggest that large players are actively trading DOGE, contributing to market liquidity and depth. The peak on June 7 further emphasizes a period of intense trading, likely driven by strategic moves from large institutions or investors.
The patterns suggest that Dogecoin remains in a dynamic trading environment, without facing a stalemate. Both retail and institutional investors are active, as indicated by the high volume and significant size of their transactions. The market is both cautious and active, ready to respond quickly to new information, as evidenced by the balanced sentiment.