Data: DOGE Transaction Volume Surpasses 1.93 Million in Past Week, Highest Since Early July
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September 19, 2024
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Dogecoin Network Sees Surge in Transactions, But No Major Influx of New Funds
According to Foresight News, citing data from IntoTheBlock, the Dogecoin (DOGE) network recorded over 1.93 million transactions in the past week, reaching a new high since early July. This surpasses other popular tokens like Shiba Inu (SHIB), Floki (FLOKI), and Pepe (PEPE).
However, data from CoinGlass reveals that DOGE futures open interest has remained around $500 million since late July, suggesting that significant new funds have not entered the market.
It's worth noting that despite the spike in transaction volume, the current weekly volume remains lower than the peak of 10 million transactions recorded in February 2024.
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