dogecoin ‘s network has been receiving increased attention lately. The total fees collected by the network from users using the blockchain saw a significant increase. As shown below, current levels are at 1-year highs. The local peak created in November 2022 was pretty close, but now Dogecoin has managed to surpass it.
Until today, meme coin The total fee collected by the network has increased by nearly 300% over the past week. In the 90-day time frame, this figure is much higher at 707.69%.
Besides, it is interesting to note that Dogecoin transactions worth between $1 million and $10 million have also seen an uptick over the past few weeks. This number of transactions, which has increased by 282% in the last 30 days, highlights the increasing activity of the major market participants. In addition, the number of transactions in the range of 100-1 thousand and between 1 thousand and 10 thousand dollars increased by approximately 16% and 5%, respectively, in the same period.
However, several segments of DOGE users are also leaving the market. The number of transactions for all other size brackets fell in the 42% to 78% range, supporting the above discussion.
Dogecoin Price
Koinfinans.com As we have reported, right after the Twitter logo frenzy launched by Elon Musk, DOGE reached the psychological $0.1 level. However, right after that, its value dropped significantly and recorded a series of red candles on its daily chart. Still, Dogecoin is currently trading 20, 50, 100 EMA above its three key exponential moving averages. But it hasn’t cleared one yet, the 200 EMA of $0.8255. Once this is done, DOGE will need to break through a few more resistances as drawn below to reconquer the local top of $0.1.
You can follow the current market movements here.