1 month ago
Dogecoin transaction activity spikes, analysts bullish
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Dogecoin Transaction Activity Surges
Dogecoin has experienced a significant increase in network activity, with weekly transactions surpassing 1.93 million. This surge outpaces other popular memecoins and indicates renewed interest in DOGE.
A spike in transactions suggests a potential revival of user engagement and could be indicative of growing adoption or increased trading activity.
- Dogecoin network transactions exceeded 1.93 million in the past week.
- DOGE outperforms other memecoins in transaction volume.
- Increased activity suggests growing user engagement and potential price rise.
- Futures bets remain steady, with open interest around $500 million.
Despite the uptick in transactions, futures bets on DOGE have remained stable since late July. Open interest hovers around $500 million, indicating no significant influx of new money into the DOGE market.
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