Dogecoin (DOGE) is on the rise as it approaches a critical resistance level, currently at $0.115, with a stunning jump of over 5.2% today. If this resistance is broken, it could push the price to $0.15.
Dogecoin has currently established itself as one of the best performing cryptocurrencies among the major ones, with a noticeable increase in trading volume.
Dogecoin trading volume has skyrocketed, up 50% in just 24 hours on the DOGE perpetual futures market. Coinglass reports that Dogecoin derivatives trading volume has reached over $1 billion, making it the ninth-largest asset in this derivatives market.
On the other hand, Dogecoin’s spot market statistics are worth mentioning. CoinMarketCap reports that DOGE’s turnover jumped by a whopping 24.26%, reaching an impressive $584.4 million. This puts Dogecoin in seventh place in terms of spot market turnover, not including stablecoins like USDT and USDC.
Looking at the total trading volume of Dogecoin on the spot and futures markets, it is currently over $1.58 billion, which is quite impressive. With a market cap of $32.35 billion, this means that the trading volume is 10% of the market cap, which shows that trading is becoming more active and that more people are interested in the meme coin market.
As the cryptocurrency market watches the developments, recent changes in Dogecoin trading volume and price dynamics show that more people are getting involved in the market activities.
