Dogecoin (DOGE) Trading Volume Surpasses $1.09 Billion: Bull Run Coming?
Dogecoin (DOGE), the meme-inspired cryptocurrency originally known for its Shiba Inu logo, has seen a 146% increase in trading volume. In just 24 hours, the coin’s trading volume has surged to a staggering $1.09 billion.
Dogecoin (DOGE) has made headlines with a staggering $1.09 billion in trading volume over the past 24 hours. This surge in trading volume, which reached around 8.61 billion DOGE, indicates growing interest from large investors and institutions.
The surge comes as the entire cryptocurrency market faces a downturn, with Bitcoin’s recent decline and speculation over a possible sale of cryptocurrencies held by the U.S. government adding to uncertainty.
While Dogecoin’s trading volume has increased, it has also been affected by the current market downturn. Bitcoin’s recent drop to around $65,000 has impacted the entire cryptocurrency space, including Dogecoin, which has been on a downward trend.
"If you are still underwater and can't see the overall market trend, you will fall if you are bullish and rise if you are bearish. Follow my homepage clippings and share the profit code for free every day." From a technical analysis point of view, if Dogecoin can maintain the 50-day moving average as support, it may rebound to higher levels, possibly reaching the 200-day moving average of $0.134. Continued rise may push the price to $0.14 or even $0.18. On the other hand, if the price falls below the $0.12 support level, it may lead to further declines, possibly to $0.10. However, Dogecoin is still down 1.6% in the past 24 hours and 5.42% in the past week.
