In an important development in the dynamic cryptocurrency universe, the largest memecoin on the market, Dogecoin (DOGE), recorded a significant increase in its trading volume in the last 24 hours, as revealed by data released by CoinGlass.
The platform's survey highlighted that the trading volume of the Dogecoin memecoin increased by 25,05%, reaching a total of US$3,68 billion. The recent increase in DOGE trading activity comes as the cryptocurrency community and investors anticipate a potential recovery for Dogecoin.
O lifting revealed that trading volume on Binance is the leader responsible for $1,47 billion. Next come the exchanges OKX with US$909,56 million and Bybit with US$520,33 million, among others. This recent substantial rise in the cryptocurrency's trading volume suggests some renewed interest and activity surrounding Dogecoin. This indicator suggests that traders are paying attention to price movements.
It should be noted that the cryptocurrency market began a sharp decline recently following geopolitical tensions in the Middle East last weekend. In the current scenario, on April 18, cryptocurrencies are trying to recover, with some even managing to trade profitably in the last 24 hours.
At the time of publication, the price of Dogecoin was quoted at US$0,1512 with an increase of 1.8% in the last 24 hours. Over the same period, the meme cryptocurrency recorded a trading volume of $2.397.888.098. In its week's development, DOGE has seen a pullback in its price of 21.4% in the last seven days.
Currently, Dogecoin leads the memecoin sector and ranks ninth in the global cryptocurrency rankings with a market capitalization of US$21.891.605.872.
It is worth remembering that, in recent times, the DOGE price has shown difficulty in remaining above important support levels, with its current value close to US$0,15 raising concerns about its stability.
