DOGE Network Activity- Dogecoin Defies Bears with On-Chain Growth
DOGE Network Activity– While most major cryptocurrencies are experiencing a slowdown, Dogecoin (DOGE) is bucking the trend with some surprising on-chain activity. Despite a 5.9% drop in price over the past 24 hours (CoinMarketCap), DOGE is showing signs of increased network demand, particularly among large holders and active users.
$23B in Large Transactions Sets DOGE Apart
Data from IntoTheBlock reveals that Dogecoin processed $23.35 billion in large transactions over the last 24 hours—a 41.12% increase, the largest jump among leading cryptocurrencies. For comparison:
- Ethereum (ETH) processed $9.97 billion in large transfers, down 6.64%.
- Bitcoin (BTC) recorded $56.06 billion but saw a 16.06% decrease.
Dogecoin’s large transaction volume more than doubled Ethereum’s in the past 24 hours.
This indicates rising interest from whales at a time when both BTC and ETH are seeing reduced high-value movement.
DOGE Active Addresses Surge Nearly 35%
Another notable shift is the rise in user engagement. Dogecoin’s daily active addresses jumped 34.91%, reaching 157,190. This outpaces Bitcoin’s 3.75% increase and Ethereum’s 1.39% gain. Although BTC and ETH still lead in total user count, the rate of user growth for DOGE is significantly higher.
These on-chain patterns suggest increased interaction from both large holders and everyday users. While it’s too early to call this a trend reversal, the data highlights a growing level of engagement that often precedes meaningful market shifts.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
