[Dogecoin (DOGE) Key Metrics Surge 146%]
The Dogecoin (DOGE) community is looking forward to an increase in the price of the currency. Despite the ongoing market volatility, DOGE holders are trying to inject bullish momentum into the market. According to data from CoinGlass, Dogecoin’s trading volume surged 146.81% in the past 24 hours to $2.47 billion, showing significant investor interest.
Data from CoinGlass further shows that this increase in trading activity is spread across major exchanges. The trading volume on Binance is $913 million, OKX is $532 million, Bybit is $504 million, and BingX is $140 million, with other platforms also seeing significant volumes. This shows that traders are actively participating in the Dogecoin market on all major exchanges, showing continued interest in DOGE.
While traders remain bullish on DOGE, its price appears to be in trouble today. DOGE continues to trade in a consolidation phase after falling 2.96% in the past 24 hours and currently trading at $0.1314, according to CoinMarketCap. This sentiment is prevalent across the crypto market. Nonetheless, DOGE’s RSI shows the opposite outlook.
DOGE’s RSI is 54.92, which is in the neutral zone, which means the coin is neither in the bearish nor bullish territory. While sentiment is neutral, Dogecoin’s surge in trading volume is a major bullish sign and the coin may enter a bullish phase in the near future.
