This metric jumps almost 100% during the DOGE price rally

TL; DR

Dogecoin's price rose above $0.20, with a market cap of nearly $30 billion, driven by increased trading volume and active addresses. The rally coincides with speculative whaling activities and endorsements from public figures such as Elon Musk.

Dogecoin (DOGE) – often referred to as the first meme coin – stands out as one of the best performers in the market right now.

The price has risen more than 30% on a weekly basis, surpassing the $0.20 mark for the first time since December 2021. DOGE's market capitalization inches toward $30 billion, making it the ninth largest cryptocurrency.

Key indicators related to the ecosystem of the property were also raised. According to IntoTheBlock, it has a combined daily volume (where each transaction is over $100K). jump Daily active addresses are increasing with a 13% increase of almost 100%.

DOGE trading volume for the past 24 hours has been impressive. CoinGecko data shows that the number has risen to 5.5 billion dollars, thus surpassing Solana's SOL ($4.1 billion) and Ripple's XRP ($1.9 billion).

Dogecoin's recent rally coincides with a minor cryptocurrency market revival and an increase in whale activity. as a Cryptopotato reportedA mysterious person (or entity) recently transferred over 1 billion DOGE (worth over $200 million at current prices) to an unknown wallet.

The move sparked speculation in the crypto community, with many members trying to guess who this whale could be. Some suggestions have pointed to Tesla CEO Elon Musk, a memecoin fan and HODLer.

Soon the world's richest man he said. The EV giant may accept DOGE as a payment method “at some point.” Musk has promised to continue supporting the token, adding “Dogecoin on the moon.”