Dogecoin large transactions increase by 10%, as per on-chain metrics by IntoTheBlock
Large Dogecoin transactions have increased 10% in the past 24 hours, according to on-chain metrics from crypto analysis IntoTheBlock. The cryptocurrency market is currently experiencing a downturn as Bitcoin and the majority of tokens are experiencing slight losses.
Large transactions track transfers that are $100,000 or more, and an increase in these metrics serve as a proxy for whales and institutions. It also provides insight into their potential investments.
Dogecoin transactions are on the rise as Binance fully opens Dogecoin withdrawals after the technical issue that caused rocky back and forth between Elon Musk and the CEO of Binance.
Users of the world’s largest cryptocurrency exchange, Binance, had suffered inconveniences when Dogecoin withdrawals were interrupted on Nov. 27, 2021.
Dogecoin, the meme created as a joke in 2013, currently ranks 10th and has risen slightly in the past 24 hours. Dogecoin has gained nearly 6,300% in the past year, according to CoinGecko. The global cryptocurrency market cap was down 1.5% to $ 2.74 trillion at the time of publication.
