Dogecoin exploded: 10% surge in 48 hours, trading volume exceeded $1 billion. Is it the beginning of a surge?

Dogecoin (DOGE) seems to have finally gotten rid of its long-term slump, soaring 10% in the past 48 hours. This gave holders a long-lost hope. According to blockchain data, Dogecoin's trading volume soared to $1 billion, and the amount of a single transaction also exceeded $1 million.

Data shows that Dogecoin 灰qu/n嘉卫: btc0877's large transaction volume surged 37.1% to $1 billion, and the number of daily addresses increased by 8%. On June 24, transactions above $100,000 increased to 316 from 129 the day before. In addition, total exchange inflows doubled from $11.6 million to $24 million.

Previously, despite an increase in trading activity, Dogecoin (DOGE) had fallen more than 20% since the beginning of May. Today's surge was unexpected, and the reason is unclear. In early March, after Bitcoin (BTC) rose, Dogecoin (DOGE) also experienced an explosive breakthrough and even entered the top 10 cryptocurrencies by market value. However, due to the overall market downturn, the asset value of Dogecoin and other cryptocurrencies also fell.

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