Cryptocurrency

Important Milestone in Dogecoin: Raised to $1 Billion!

A valuable milestone has been left behind for Dogecoin, one of the most recognizable altcoins of recent times. According to Coinbase information, transaction volume for Dogecoin increased more than 13 times in the second quarter of 2021, reaching approximately $1 billion per day.

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Dogecoin (DOGE) transaction volume increased

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Cryptocoin. com

As we reported , the average daily volume of Dogecoin in the first quarter was $74 million. However, according to information compiled by Coinbase and reported by Business Insider, Dogecoin transaction volumes increased by 1,250% in mid-April and June, with DOGE changing hands at an average of $995 million during the quarter.

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Dogecoin started the year with a price of just $0.004 and saw its first rise in early February, with a 50 percent spike after Tesla CEO Elon Musk’s tweets where he clearly showed the DOGE reinforcement. Musk continued his Dogecoin tweets, pushing the chest coin to an all-time high of $0.73 in May.

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Exchange listings positively impacted DOGE’s performance

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According to Business Insider, although things such as the mention of Dogecoin by many famous people, especially Elon Musk, have affected the outstanding performance of DOGE, the cryptocurrency; It performed impressively, with Gemini and eToro in May and listing on major exchanges including Coinbase in June.

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According to Coinbase’s data, the global cryptocurrency transaction volume increased by 32% in the second quarter, and the cryptocurrency exchanged hands at a daily value of approximately $19 billion. The information shows that DOGE represented more than 5 percent of total crypto volume in Q2. However, in its quarterly cryptocurrency report, GoinGecko estimates that around $81 billion worth of cryptocurrencies were traded daily in Q2, suggesting DOGE accounted for 1.2 percent of quarterly crypto volume.

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Latest situation in Dogecoin

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The cryptocurrency, which is in the eighth place according to the market price, has experienced a loss of 2.8 percent in the last 24 hours and is changing hands at $ 0.18. It remains 75.3 percent below the $0.73 level it saw on May 8.

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