Dogecoin (DOGE) Market Sentiments Witness Positive Rebound

Dogecoin (DOGE) has witnessed remarkable positive market sentiments in the past few days, including a 14% price rebound following a surge in network activities.

Dogecoin (CRYPTO: DOGE) has seen positive market sentiments recently, including a 14% price increase following a surge in network activities.

What Happened: According to data from IntoTheBlock, large transaction volume for DOGE spiked by 36.31% or $1.02 billion following the price rebound earlier as investors’ sentiment improved significantly.

This indicates that institutional players and large holders were actively engaged in the market, either buying to consolidate their assets or selling to readjust their portfolios.

The large transaction volume for DOGE outperformed other assets, including Lido Staked Ether and Cardano, which saw transaction volumes of 19.47% and 5.82%, respectively.

These were the only assets that recorded positive transaction volumes. Others, like Ethereum and Toncoin, were negative, with lower volumes transacted.

Furthermore, daily active addresses increased slightly by 1.52%, as indicated by the on-chain source.

This translates to 47,360 active addresses over the last 24 hours. The growth in active addresses on the network indicates that more users were engaged in transactions and other activities.

DOGE Price Action: At the time of writing, DOGE was trading at $0.1045, up 3.45% in the last 24 hours and down 21.07% over the past seven days, according to Benzinga Pro.

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