According to data from IntoTheBlock, trading volume for the dog-themed cryptocurrency Dogecoin (DOGE) has surged. In the past 24 hours, Dogecoin has seen a staggering $1 billion in trading volume, while its price has risen by 5%. #以太坊ETF批准预期 #DOGEUSDT $DOGE

Large transactions are usually transfers of more than $100,000. In this case, IntoTheBlock's USD Large Volume metric estimates the total USD amount transferred in such transactions, indicating the total amount of transactions by whales and institutional players on a given day. A surge in large volume indicates active activity from institutional players - both buying and selling. Dogecoin's large volume reached 8.45 billion Dogecoin in the last 24 hours, up 37%.

The price of Dogecoin also rose 5% as trading volume surged, indicating increased demand and positive market sentiment. The price of Dogecoin has been falling over the past four days, mirroring the broader market. This period of decline caused concern among investors and traders as they saw the value of their holdings drop. However, the market changed, and the price of Dogecoin rebounded 5%. As of the time of writing, Dogecoin is up 4.76% over the past 24 hours to $0.1231.

The recent upward momentum has provided much-needed respite to holders and reignited optimism in the cryptocurrency community. Several factors may have contributed to the rally. Market analysts say that buyers may have begun to step in after a period of selling pressure. In addition, the overall sentiment in the cryptocurrency market may be changing, with investors looking for opportunities to buy at lower prices.