đ 12.4 Billion Dogecoin (DOGE) Changed Hands in the Last 24 Hours, Price Reacted
Dogecoin (DOGE) has yet to recover from Elon Musk's praise for Kabosu, the inspiration for the humor coins that created DOGE. The coin has increased in some key metrics as Musk's posts on DOGE have been major growth boosters.
At the time of writing, Dogecoin is trading at $0.167, up 3.67% in the last 24 hours. This increase occurred at a time when Bitcoin's price entered consolidation mode, but Bitcoin's price rose 2.67% to $69,218.58. Over the past week, Dogecoin's growth hasn't followed one neat pattern.
During this time frame, the coin increased by 7.72% but experienced a decrease in trading volume. Currently, DOGE has a 24-hour trading volume of $2,026,640,330, a decline of 37.3%. This transaction volume shows that 12.4 billion DOGE changed hands in one day. Despite the slight decline in this metric, the positive price reaction indicates latent hunger in the price.
Dogecoin remains extremely responsive to posts from Elon Musk and other influencers. This has been prominently displayed throughout Dogecoin's lifetime, as Dogecoin saw a huge boost when Elon Musk changed the X logo to the DOGE mascot at some points.
Among Dogecoin's ongoing legacy is a critical expectation that X Payments has been proposed, which will integrate DOGE payments and provide unique utility to the coin overall. While neither Elon Musk nor the platform has officially confirmed this, the billionaire's love for the coin could lead him to register DOGE should he join the app for anything that involves crypto payments.
As the growth driver in the $DOGE ecosystem increases, the ultimate price expectation is that Dogecoin will return to the $0.2 price mark in the medium term and 0 in the long term.It is predicted that it will rise to $7.
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