Shibetoshi Nakamoto, the creator of Dogecoin displayed the Dogecoin transaction volume through his Twitter handle. The tweet revealed the massive spike in the number of transactions on the chains as the metric rise to nearly 70,000 operations in the past 24 hours.
following the massive spike, the meme currency is gaining almost 5% of its value. The reason behind the spike in the transaction could be result of the massive activity of the whales. Seeing the Doge pointing in the recovery direction, the whales’ taste in the Doge starts to rise, this made them stake more doge ahead of a coming recovery. Also, the massive could be because the whale is sensing the upcoming selling pressure on the market as whales may potentially start moving their funds from cold wallets to exchange addresses.
Read Also: Charles Hoskinson Responds To The View Of Michael Saylor On Cardano.
At press time, Dogecoin is trading at $0.066 and showing over a 15% price increase in the last seven days of trading.
Timothy Stebbing Display The Use Case Of Dogecoin
Dogecoin is surrounded by many fortunate people that interested in the meme coin breakthrough regardless of the general crypto bear. For instance, the co-founder of Dogecoin, Billy Markus revealed in a series of tweets last month that his utmost desire is for Dogecoin to have a reason for existence and to keep adding utility.
Dogecoin Foundation seeks to maximize the potential for Dogecoin to have a positive influence on people around the world providing projects that enable everyone on earth to create a noncustodial Dogecoin wallet and to transact Dogecoin for products and services. In this regard,
the director of the Dogecoin Foundation, Timothy Stebbing purchased the coffee in an Australian café while also encouraging a local artist to sell artwork “exclusively in Dogecoin.”
[…] Read Also: Dogecoin’s Transaction Volume Spikes To Almost 70,000 As the Crypto Market Start To Recover. […]