During the 2nd quarter of this year, the daily volume of Dogecoin has probably represented nearly 5 percent of all the volume of the cryptocurrency market. The daily volume of Dogecoin rose by over thirteen times in the 2nd quarter of this year.
Trading Volume Of Dogecoin Rose By 1,250% Between April And June!
According to reports of Business Insider and Coinbase, the trading volumes of the cryptocurrency have soared by 1,250 percent between April – June. During this quarter, DOGE worth around $995M changed hands daily! By comparison, the average volume of the cryptocurrency for the 1st quarter turned out to be $74M. At the start of the year, the price of Dogecoin was just $0.004. In February, the prices of the cryptocurrency jumped by 50 percent when Elon Musk, CEO, Tesla, joined the campaign of Twitter-shilling to support his meme coin. As Musk managed to ramp up the hysteria of Dogecoin, a massive and major rally followed.
On 8th May, the coin having the theme of Shiba Inu recorded $0.731 as its highest of all times. Since the start of this year, the movie managed to culminate in a surprising 18,000 percent gain. Business Insider has stated that the impressive performance of the DOGE is partly due to the listings of DOGE on major currency exchanges, including eToro and Gemini in May along with Coinbase during June.
According to the data of Coinbase, the 2nd quarter also saw an increase of 32 percent in the global trading volume of the cryptocurrency. Digital assets of around $19 Bn are changing hands regularly! The data also shows that the cryptocurrency Dogecoin has managed to represent over 5 percent of the total combined volume of all the cryptocurrencies during the 2nd quarter of this year!