Dogecoin

Notable

Dogecoin, the popular meme cryptocurrency, is currently experiencing a price decline amid ongoing events, including the criminal case against Binance ex-CEO CZ and the recent SEC lawsuit against cryptocurrency exchange Kraken for securities law violations.&nbsp; Institutional interest sparks transaction surge 
However, according to the recent report by IntoTheBlock, an on-chain analytics firm, in the past month, Dogecoin ($DOGE) has experienced a noticeable surge in transactions, surpassing the $100,000 mark and consistently setting new highs.&nbsp;This uptick is indicative of heightened interest in DOGE from institutional players and large-scale investors. Growing user engagement and address activity 
Along with this, IntoTheBlock also reported a notable surge in active Dogecoin addresses, marking an 87.1% increase since early November. The count rose from 48,470 on Nov. 1 to 90,690 by Nov. 20, indicating substantial growth in user engagement. This uptick in address activity is generally viewed as a positive development for Dogecoin. 
Despite a lengthy period of struggle, Dogecoin (DOGE) has staged an impressive comeback, recording an over 17% surge over the past 30 days. As of now, the popular meme cryptocurrency is trading at an average price of $0.075. The 24-hour trading volume has seen a substantial decline of 42.15%, reaching $358 million at the current press time. 
Also Read: <a href="https://news.todayq.com/dogecoin-hodls-strong-amid-crypto-market-wide-sell-off/">Dogecoin decouples amid Crypto market wide sell off</a> Notable Dogecoin transactions 
Whale Alert, a prominent crypto data tracker, reported notable activity in Dogecoin transactions on November 22, 2023. Three significant movements were identified:&nbsp; 
<ol> 
 <li>Firstly, 92.3 million DOGE, equivalent to $6.8 million, shifted from Robinhood to an undisclosed wallet.</li> 
 <li>Secondly, a substantial sum of DOGE valued at $35.3 million was transferred from an unidentified wallet to Bittrex.&nbsp;</li> 
 <li>Lastly, an unknown wallet deposited 70.1 million DOGE, amounting to $5.2 million, into Robinhood.&nbsp;</li> 
</ol> 
These transactions indicate substantial movement and redistribution of Dogecoin within the crypto market. 
© Todayq News

Dogecoin’s transactions soar as institutional interest grows: Report

Todayq News

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