Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Dogecoin DOGE Transactions Hit 1.93 Million in a Week, Surpassing Rivals
  • News

Dogecoin DOGE Transactions Hit 1.93 Million in a Week, Surpassing Rivals

Simon Njenga 20 September 2024
dogecoins
  • Dogecoin (DOGE) saw a significant increase in network activity, with transactions surpassing 1.93 million in a week, marking the highest level since early July.
  • Despite this spike, DOGE’s futures market remains stable, and transaction volumes are still below the February peak of 10 million weekly transactions.

Dogecoin (DOGE), the iconic memecoin with its Shiba Inu mascot, has experienced a remarkable surge in network activity. Over the past week, transactions exceeded 1.93 million, based on data from IntoTheBlock. This surge places DOGE ahead of other popular tokens like Shiba Inu (SHIB), Floki (FLOKI), and Pepe (PEPE).

This resurgence in transactions marks the highest activity level since early July, suggesting a renewed interest in Dogecoin. While this increase is significant, it’s important to note that transaction volumes are still below the peak levels seen earlier this year.

Latest Happening in Dogecoin: What You Need to Know

Dogecoin’s recent spike in transaction volume indicates that the token is drawing renewed attention. The 1.93 million transactions recorded in the past week represent the highest since July, solidifying DOGE’s leading position in the memecoin space. Despite this surge, the peak transaction volume for Dogecoin in 2024 occurred in February, with weekly numbers reaching an impressive 10 million.

Dogecoin Outpaces Rivals with Record-Breaking Network Transactions

Compared to other memecoins, Dogecoin has consistently maintained a higher transaction count. Its recent 1.93 million weekly transactions have outpaced those of rivals like SHIB, FLOKI, and PEPE. This sustained network activity showcases Dogecoin’s robust presence in the broader cryptocurrency market, particularly within the memecoin sector.

Despite its fluctuations, Dogecoin’s market capitalization and volume often surpass those of similar projects, reflecting its stronger user base and broader recognition.

Dogecoin Futures Market Remains Steady

Despite the recent uptick in network activity, the DOGE futures market has remained relatively stable. Since late July, open interest in Dogecoin futures has hovered around the $500 million mark, according to CoinGlass data. This stability indicates that while the token has seen increased user engagement and transaction activity, it hasn’t yet attracted a significant inflow of new capital into the futures market.

Dogecoin’s February Peak

The current transaction volume, while substantial, remains far below the February peak of 2024. During that period, Dogecoin’s weekly transactions soared above 10 million, a level that hasn’t been matched in the subsequent months. However, the recent increase in activity signals a potential return to growth for the token as more users engage with the network. Sustained increases will be needed to rival past highs.

Dogecoin’s Adoption Signals Potential Price Movement

The recent increase in Dogecoin transactions may indicate growing adoption, potentially leading to future price increases. Although the token has remained relatively flat in terms of futures market movement, the heightened activity suggests renewed interest among traders and holders alike.

As the broader cryptocurrency market continues to evolve, Dogecoin’s consistent transaction performance positions it as a potential leader in the memecoin space. The increased engagement could signal a promising future for DOGE, provided that this trend continues.

Continue Reading

Previous: Cardano’s Bullish Breakout: ADA On the Verge of a 20% Surge
Next: Binance BNB Reports 40% Increase in Corporate Investors After Bitcoin ETF Approval

Related Stories

Monero XMR Highlight_simple_compose
  • Analysis

Monero XMR Is Heating Up Aiming $500 Now After Bullish Surge

Simon Njenga 3 June 2025
shiba inu
  • Analysis

Shiba Inu’s Massive Token Burn Sparks Hopes for 500% Price Rally

Jane Kariuki 3 June 2025
dogecoin on marbles
  • Analysis

Dogecoin Under $0.25: Smart Buy or Risky Bet?

Dennis Gatheca 3 June 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

Monero XMR Highlight_simple_compose
  • Analysis

Monero XMR Is Heating Up Aiming $500 Now After Bullish Surge

Simon Njenga 3 June 2025
shiba inu
  • Analysis

Shiba Inu’s Massive Token Burn Sparks Hopes for 500% Price Rally

Jane Kariuki 3 June 2025
dogecoin on marbles
  • Analysis

Dogecoin Under $0.25: Smart Buy or Risky Bet?

Dennis Gatheca 3 June 2025
Litecoin coins
  • Guide

How to Keep Your Litecoin Secure with Simple Safety Tips

Jane Kariuki 3 June 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok