Shiba

Dogecoin

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 <p class="paragraph">With the bullish momentum in the larger part of the cryptocurrency sector starting to slow down, Dogecoin (DOGE) is following the general sentiment, but the past several weeks have recorded massive transaction activity for the world-famous dog-themed crypto asset and its network.</p>
 <p class="paragraph">Specifically, since January 30 and throughout the month of February, the DOGE blockchain has been recording more than 1 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> per day, according to the data shared by the decentralized finance (DeFi) market intelligence platform <em>IntoTheBlock</em> in an X post on February 19.</p>
 <p class="paragraph">Indeed, as the chart demonstrates, <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> in the DOGE ecosystem witnessed a significant uptick that started on January 28 and picked up the pace on January 30, nearing 2 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> <a rel="noopener noreferrer nofollow" title="daily" href="https://thebittimes.com/tag/daily.html">daily</a> <a rel="noopener noreferrer nofollow" title="transactions" href="https://thebittimes.com/tag/transactions.html">transactions</a> until mid-February, when it dropped below 1.5 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> and then recovered again towards February 19.</p>
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 <figure class="wp-block-image"><img decoding="async" width="900" height="399" src="https://cdn.thebittimes.com/images/2024/02/20/797ee838b65ee8d445d6734c75f3d614.webp" alt class="wp-image-156021" srcset="https://cdn.thebittimes.com/images/2024/02/20/797ee838b65ee8d445d6734c75f3d614.webp 900w, https://cdn.thebittimes.com/images/2024/02/20/797ee838b65ee8d445d6734c75f3d614.webp 300w, https://cdn.thebittimes.com/images/2024/02/20/797ee838b65ee8d445d6734c75f3d614.webp 768w" sizes="(max-width: 900px) 100vw, 900px">
  <figcaption class="wp-element-caption"><em>Number of DOGE transactions. Source: </em><em>IntoTheBlock</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-dogecoin-price-analysis">Dogecoin price analysis</h2>
 <p class="paragraph">Meanwhile, the currently 10th-largest asset in the crypto sector by market capitalization was at press time changing hands at the price of $0.086, which suggests a 0.27% decline in the last 24 hours but nonetheless is a 4.06% gain across the previous seven days and a 1.14% advance over the month.</p>
 <figure class="wp-block-image"><img decoding="async" width="1200" height="800" src="https://cdn.thebittimes.com/images/2024/02/20/5527628f94de4f8004ca0c24946654eb.webp" alt class="wp-image-156022" srcset="https://cdn.thebittimes.com/images/2024/02/20/5527628f94de4f8004ca0c24946654eb.webp 1200w, https://cdn.thebittimes.com/images/2024/02/20/5527628f94de4f8004ca0c24946654eb.webp 300w, https://cdn.thebittimes.com/images/2024/02/20/5527628f94de4f8004ca0c24946654eb.webp 1024w, https://cdn.thebittimes.com/images/2024/02/20/5527628f94de4f8004ca0c24946654eb.webp 768w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption"><em>Dogecoin 7-day price chart. Source: </em><em>Finbold</em>
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 </figure>
 <p class="paragraph">All things considered, a massive uptick in 24-hour <a rel="noopener noreferrer nofollow" title="transaction" href="https://thebittimes.com/tag/transaction.html">transaction</a> volume is often a bullish sign for the involved crypto asset – in this case, Dogecoin – as it indicates intensified use of its network and growing adoption, possibly resulting in increased investor interest, which could send it above $0.15.</p>
 <p class="paragraph">On top of that, DOGE is currently holding above the three key bull market indicators backed by the 20-day exponential moving average (EMA), the 50-day EMA, and the 200-day EMA, as well as the moving average convergence divergence (MACD) indicator, all suggesting a ‘buy’ for DOGE.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dogecoin-price-prediction-as-doge-surpasses-1-million-daily-transactions-in-february-tbt80269.html">https://thebittimes.com/dogecoin-price-prediction-as-doge-surpasses-1-million-daily-transactions-in-february-tbt80269.html</a></p>

Dogecoin price prediction as DOGE surpasses 1 million daily transactions in February

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