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🚀🚀🚀Dogecoin Rises 17%, Breaks $0.21 As Volume Increases
#Dogecoin has increased by 17% in the last 24 hours, breaking the $ 0.21 limit, because on-chain data shows a significant increase in memecoin volume.
Dogecoin Has Outperformed the Market with a 17% Increase in the Last Day
Most of the top cryptocurrencies have seen flat returns over the past 24 hours, but Dogecoin has gone its own way with the original meme coin experiencing a strong rise.
The graph below shows how the asset's performance has looked over the past few days:
In this latest rise, Dogecoin has increased by more than 17% in the last 24 hours and has surpassed the $ 0.21 level. Among the top 100 cryptocurrencies by market capitalization, only Bitcoin Cash (BCH) recorded similar profits over the same period.Dec.
#DOGE is still outperforming BCH in the 1-week timeframe; memecoin has made a return of more than 40% during this period, while Bitcoin has seen a hard fork of 33%.
The reason why these two assets have seen a particularly strong performance may be that Coinbase plans to add futures products to them starting from April 1. Litecoin (LTC) is also preparing to be listed on the same day, but its performance is much weaker than the other two.
DOGE Has Observed A Sharp Increase in Trading Volume Recently
What confirms that the widespread speculation around Dogecoin is ripe for an upswing at the moment may be the Trading Volume. As one user on X pointed out using data from on-chain analytics firm Centiment, DOGE's Trading Volume has increased recently.
"Transaction Volume" keeps track of the total amount of tokens (in USD) for a particular cryptocurrency that has observed some movement on the blockchain in the last 24 hours.
When the value of this metric is high, it means that users are currently making large amounts of transactions on the network. Such a trend means that commercial interest around the asset is currently high.
