Because of Wednesday's flash meltdown, which shook the cryptocurrency market, Dogecoin has struggled to recover. The price of DOGE has fallen from its $0.09 high and is now trading at a low of $0.08 while this article is being written. Curiously, this is occurring just as the volume of the meme currency is seeing a notable upswing; what gives?
Volume of Dogecoin Surges Above 200%
Following a precipitous decline in price, Dogecoin's daily trading volume saw a rise comparable to the most recent ones. In the end, the daily trading volume of DOGE increased by more than 190% due to the rising interest in the currency.
As a result of this increase, the trading volume for the day surpassed $1.12 billion, as reported by CoinMarketCap. This is excellent news for the asset, since it amounts to almost 9% of the trading volume to market cap ratio.
Still, DOGE has failed to see any gains despite the uptick in interest. The price is remains below $0.082 as of this writing. Its price has dropped by almost 10% in the same time period, and it has also lost all of its weekly gains.

Why Is the Price of DOGE Challenging?
The DOGE price seems to be staying put due to increased sell pressure on the asset, particularly from institutional investors. The "whales" among Dogecoin holders seem to be liquidating their assets.
Sending coins to exchanges is often a sign that the holder is planning to sell their coins, which may be bad for the price of a cryptocurrency. Because of this, it's possible to exert significant selling pressure on the price, similar to what happened with Dogecoin.
In the last 24 hours, there have been a number of significant Dogecoin transactions destined for exchanges. A flagged transaction destined for the Robinhood trading platform was 82 million DOGE, valued at $6.74 million. Another massive transaction was detected an hour later by Whale Alert; this one also carried 102.27 million DOGE, with a value of $8.4 million, to Robinhood. The DOGE price's persistence in the face of market recovery may be explained if all of these transactions were executed with the aim of selling.
Nevertheless, not all shifts have been pessimistic, particularly from these substantial investors. Over 151.68 million DOGE, or $12.49 million, was transferred from Robinhood to an undisclosed wallet in one transaction that was recorded by the whale tracker. The fact that the owner may be transferring the coins to a personal wallet in the hopes of waiting for a higher price makes this transaction more positive.
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According to X, The account associated with @SECGov was compromised, indicating that someone other than the rightful owner has gained unauthorized access or control.
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According to Odaily, recent data from Magic Eden indicates a significant increase in the floor prices of NFTs within the BTC ecosystem. Notable gains include Bitcoin Puppets, with a floor price currently at 0.175 BTC, reflecting a 24-hour increase of 26.9%. NodeMonkes has seen its floor price rise to 0.185 BTC, marking a 19.2% increase over the same period. Billy Cats experienced a substantial surge, with its floor price now at 0.005 BTC, up by 109.2% in the last 24 hours. Runestone's floor price has climbed to 0.0093 BTC, showing a 16.8% increase. Bitcoin Frogs' floor price is now at 0.05 BTC, up by 9.4%, while Bitcoin Wizards' floor price has reached 0.154 BTC, reflecting a 28.3% increase.

The floor price of Runestone is temporarily reported at 0.0093 BTC, with a 24-hour increase of 16.8%; the floor price of Bitcoin Frogs is temporarily reported at 0.05 BTC, with a 24-hour increase of 9.4%; the floor price of Bitcoin Wizards is temporarily reported at 0.154 BTC, with a 24-hour increase of 28.3%.

Bitcoin-based NFTs are unique digital assets directly inscribed onto the Bitcoin blockchain, pushing the boundaries of ownership and unlocking new possibilities for the legendary network. Here are the best Bitcoin NFT projects to explore in 2024.

Note: This information is taken by other resources.

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Grayscale Investments has shocked the world with its fee rate, a figure that is higher than those of its core rivals.
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Fox Business has disclosed that BlackRock plans to cut 600 jobs as it expects the United States SEC to approve its iShares spot Bitcoin ETF product on Wednesday, Jan. 10.
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