dogecoin The prices of have increased recently as people collect large amounts of meme coins. According to data published by IntoTheBlock over the past 30 days, the amount of DOGE transactions worth more than $1 million has increased by almost 600%. With the increase in whale transactions, DOGE prices rose over 15%.
Dogecoin Sees Increase in Whale Transactions
According to IntoTheBlock report, there are currently active DOGE whales in the market. Over the past 30 days, the amount of DOGE transactions valued over $1 million has increased by more than 600%. This increase coincides with a period in which currency prices increased by over 15%. At press time, DOGE is trading at $0.1532, up over 14%. The price increase also led to an increase in trading volume, reaching $2.9 billion, a 20% increase compared to the previous day.
DOGE is Accepted in the Market
As we reported as Koinfinans.com, Coinbase recently applied to the CFTC to list Dogecoin (DOGE) and other cryptocurrency futures on its market. There has been controversy, especially among XRP enthusiasts, surrounding the cryptocurrency exchange’s choice to give DOGE futures listing priority.
The market acceptance of Dogecoins may be one of the factors contributing to the price increase of the cryptocurrency. According to Forbes, many businesses have adopted Dogecoin as a payment method due to its low transaction fees and the ongoing preference of Twitter CEO and billionaire Elon Musk. Since markets are cyclical, Dogecoin may eventually see another bull market breakout. This appears to start earlier than expected in 2024 and could last into 2025. In the following years, the bull market would really take off. Unless, of course, something catastrophic occurs and the technical structure of the chart is changed.
The current price of Dogecoin is $0.1539. As of now, the 24-hour trading volume of cryptocurrencies is $2.9 billion. DOGE is currently trading between $0.1571 and $0.1471. It increased by 14.49% in the last 24 hours. The current market cap of Dogecoin (DOGE) is $20.9 billion.
