Dogecoin

Bitcoin

when

Billion

<p>As Dogecoin, the famous cryptocurrency inspired by a dog meme, shows a trading volume of $1.17 billion in 24 hours, the crypto sphere is questioning. The rapid fluctuations of Dogecoin, combined with a sense of curiosity and distrust, reveal a dynamic that intrigues as much as it worries. But beyond the numbers, what is really happening in the universe of this crypto full of surprises?</p>
<h2 id="h-un-volume-colossal-mais-en-baisse">A colossal volume, but declining</h2>
<p>Dogecoin is not at its first explosion. On October 21, it peaked at $12.87 billion in significant <a href="https://www.cointribune.com/tag/dogecoin-doge/" target="_blank" rel="noopener noreferrer nofollow">DOGE</a> transactions.</p>
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<p>This figure, while impressive, masks a decline. Since October 16, Dogecoin has recorded a drop in its transactional volume, thus entering a downward phase after reaching peaks around $0.1499.</p>
<p>The question is: why this huge spike in volume, followed by a sudden decline? To understand, we must closely examine the origin of these movements. On one hand, the major crypto whales, these massive wallets, seem to play a crucial role in buying and selling millions of DOGE in a single transaction.</p>
<p>This type of manipulation often stimulates the interest of retail investors who, driven by fear of missing an opportunity (the famous <strong><a href="https://www.lemonde.fr/idees/article/2021/11/03/fomo-ou-la-peur-de-rater-quelque-chose_6100722_3232.html#:~:text=Acronyme%20de%20%C2%AB%20Fear%20of%20missing,risquer%20de%20manquer%20un%20%C3%A9v%C3%A9nement." target="_blank" rel="noopener noreferrer nofollow">FOMO</a></strong>), join in this frenzy. However, when the whales withdraw, the volume drops swiftly, revealing a base of investors far less substantial than expected.</p>
<p>Data also shows a 7.54% drop in transactional volume in a single day, an important indicator.</p>
<p>This could signal that, despite the excitement around Dogecoin, some institutional players are reducing their positions, or that demand among retail investors has begun to weaken, which could herald a period of calm for DOGE.</p>
<h2 id="h-la-popularite-de-dogecoin-meme-ou-moteur-de-croissance">The popularity of Dogecoin: meme or growth engine?</h2>
<p>Dogecoin is an oddity in the crypto universe. Born as a joke, it has become one of the most popular cryptos, thanks to its humorous and accessible image, and, of course, the support of influencers like Elon Musk. But the question remains: is this popularity sustainable, or is Dogecoin just a fad?</p>
<p>The current trend shows that Dogecoin benefits from a loyal user base, but its fundamentals remain fragile. Unlike other cryptocurrencies like <a href="https://www.cointribune.com/bitcoin-btc-decouvrez-tout-de-la-reine-des-cryptos/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> or Ethereum, Dogecoin has no specific use case or groundbreaking technological development in sight.</p>
<p>This reality weighs on its long-term viability and raises questions about the stability of its price, especially when we observe a decline in significant transaction indicators.</p>
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<p>However, it would be unfair to reduce Dogecoin to a mere joke. Its ability to attract attention and gather an active community gives it a certain resilience.</p>
<p>Users, charmed by the quirky side of the crypto, continue to support it, even in times of decline. Moreover, the rapid fluctuations of Dogecoin make it a favorite asset for traders who take advantage of its volatility to attempt quick gains. Meanwhile, <a href="https://www.cointribune.com/en/bitcoin-is-surging-again-heres-why-the-price-is-rising/" target="_blank" rel="noopener noreferrer nofollow">bitcoin is bouncing back again.</a></p>

Dogecoin Crypto Skyrockets To 1.17 Billion Exchanged: What Is Happening ?

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