Dogecoin Price Soars 14%, Network Activity Increases Significantly

The first meme coin, Dogecoin. (Photo; Doc. Bitcoinist)

JAKARTA - Positive news came from Dogecoin (DOGE), the first popular meme coin among crypto investors. In the last 24 hours, Dogecoin experienced a 14% price spike, which was accompanied by a significant increase in network activity.

This increase has attracted the attention of market players, especially institutional investors who seem to be increasingly active in major transactions. With the price of Dogecoin, which now stands at $0.095 (Rp1,425), the volume of large transactions has soared by 119%, reaching 16.5 billion DOGE. This phenomenon reflects the growing interest in Dogecoin, both from individual and institutional users.

Dogecoin (DOGE), a cryptocurrency known for its strong and loyal community, has seen a significant increase in network activity, along with a 14% price spike in the last 24 hours. This increase has attracted the attention of market players, especially institutional investors who seem to be increasingly active in large transactions.

At the time of writing, the price of Dogecoin rose 14% to $0.095 (Rp1,425). In the same period, large transaction volume soared by 119%, reaching 16.5 billion DOGE, based on data from IntoTheBlock. This Large Transaction Volume usually shows significant activity from institutional players, both in buying and selling crypto assets.

In addition, the total transaction fees on the Dogecoin network have also seen a marked increase. The transaction fee rose from 20,340 DOGE to 28,470 DOGE, reflecting an increasing demand for transactions on this network. This increase in costs is often an indication that many users want to transact and are willing to pay a higher fee to quickly complete their transactions.

The number of active addresses on the Dogecoin network has also shown an increase, from 40,420 to 51,320 in the last 24 hours. This growth signifies wider participation in the Dogecoin network, with more and more users involved in transactions and other activities.