Dogecoin (DOGE) Skyrockets: 1 Million to 10 Million Transactions Surge 300% in 30 Days?
Is Dogecoin (DOGE) truly "on fire?" Recent data suggests a significant surge in network activity. While Dogecoin (DOGE) is on fire, with a 46% gain in the last 30 days and a current price of $0.21, let\'s delve into the story behind the reported increase in Dogecoin transactions.
Dogecoin Transaction Volume Spikes: What\'s Behind the Rise?
Reports indicate a substantial increase in Dogecoin (DOGE) transaction volume. Over the past 30 days, they have inclined by 282%, highlighting increased activity from large market participants. This includes a rise in both smaller and larger transactions, specifically within the transaction count in the $100-$1k and $1k to $10k brackets.
Dogecoin Millionaires See a Massive Jump
The increased activity appears to be correlated with the growing number of wealthy DOGE holders. Dogecoin Millionaires Have Jumped 76% In Past Month. According to data from the market intelligence platform IntoTheBlock, the number of Dogecoin millionaires has seen a significant rise, potentially fueling the transaction surge.
Dogecoin (DOGE) Price and Performance
The rise in transaction volume coincides with positive price action for Dogecoin. Hace 6 días Dogecoin (DOGE) currently trades at $0.24, a 44% increase from last month. DOGE has resistance levels below $0.26 and continues to ride out bullish momentum. The overall sentiment surrounding Dogecoin remains positive, despite market volatility.
Network Fees Increase
Increased activity also affects network fees. Dogecoin’s network has been seeing increased traction of late. The total fees collected by the network from the users using its blockchain noted a substantial spike. This increase, while a cost for users, confirms the growing demand to use the Dogecoin blockchain.
WallitIQ (WLTQ) - The Next Big Thing?
While Dogecoin shows promise, some analysts are pointing to alternative investments. Enthusiasts and analysts are looking ahead with excitement as some Top analysts have indicated that WallitIQ (WLTQ) is on track for a 100x surge before year-end, outpacing the much-anticipated 300% Dogecoin price pump. The comparison is meant to get people thinking about alternatives with potentially higher ROI. Unlike Dogecoin, the other is not so well known.
Disclaimer: Cryptocurrency investments are highly speculative and carry significant risk. Always conduct thorough research and consult with a financial advisor before investing.