Dogecoin (DOGE), the world's largest meme-based cryptocurrency by market cap has seen a spike in its number of on-chain transaction volumes per day, signifying a surge in its user activity.
<h2 class="article__title" data-title="Dogecoin Transactions Are Spiking as Crypto Market Recovers , Category: News ,Author: Arman Shirinyan , Date: 18 Jul 2022 , Week: 29" data-url="/dogecoin-transactions-are-spiking-as-crypto-market-recovers">Dogecoin Sees Spike in Transaction Volumes</h2>
According to data from BitInfoCharts, the number of daily transactions in Dogecoin (DOGE) has soared above 75,000 in the last 24 hours, signifying a surge in user activity. At the time of writing, the number of Dogecoin daily transactions per day is at around 76,091, <a href="https://bitinfocharts.com/comparison/dogecoin-transactions.html#3y" target="_blank" rel="nofollow noopener">data</a> from BitInfoCharts show.

The spike in Dogecoin was followed by an unexpected recovery of the entire cryptocurrency market. For instance, leading <a href="https://www.cryptoknowmics.com/news/sri-lanka-central-bank-still-against-buying-cryptocurrencies/" target="_blank" rel="noopener">cryptocurrencies</a> Bitcoin and Ethereum were on the rise during the weekend trading session after gaining 6.6% and 26% in the past seven days.

https://twitter.com/BillyM2k/status/1548694000931983363

It should be noted this is the largest volume of daily transactions for the meme-based cryptocurrency in the past 14 months. For instance, the last time Dogecoin's daily transactions count surged above 75,000 was on May 9, 2021.

At the time, the number of daily transactions reached 82,000. The period also corresponds to when the cryptocurrency's price hit an all-time high of $0.73.

Meanwhile, the spike in the number of Dogecoin transactions did not have much impact on the price of DOGE. The cryptocurrency is currently trading at $0.066, up 2.1% from the past 24 hours.

Dogecoin (DOGE) Daily Transaction Volumes Surges to 14-Month High

Dogecoin (DOGE) has seen a spike in its number of on-chain transaction volumes per day, signifying a surge in its user activity.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Dogecoin (DOGE) Daily Transaction Volumes Surges to 14-Month High

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