Much Wow! Dogecoin's Transaction Count Crosses The Million Mark Every Day In February
Portfolio Pulse from Mehab Qureshi
Dogecoin (DOGE) has experienced a significant increase in transactions, surpassing one million daily transactions since January 30, with a peak of 1.9 million on February 2. This surge in activity, highlighted by IntoTheBlock, is accompanied by an increase in large transactions by Dogecoin whales, with 12.63 billion DOGE ($1.09 billion) exchanged in the past 24 hours. Despite this, DOGE's price has dropped by 3.75% to $0.085.
February 21, 2024 | 5:05 am
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Dogecoin has seen a surge in transactions and whale activity, with over 1 million daily transactions since January 30 and $1.09 billion exchanged recently. However, its price has decreased by 3.75% to $0.085.
The significant increase in transaction volume and whale activity indicates a high level of interest and liquidity in Dogecoin, which could be positive. However, the recent price drop suggests that despite increased activity, market sentiment may be bearish in the short term, possibly due to profit-taking or broader market trends.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100