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DOGE (DOGE) pump 12%, data shows it will further pump in the future
The cryptocurrency market is recovering, and assets such as DOGE (DOGE) are rebounding from multi-month lows. The DOGE price pumped 12.67% in 24 hours, pushing the price of the meme coin to $0.3379. According to current on-chain data, DOGE has even more pump potential.
DOGE indicates more pump trends.
In addition to the 24-hour price pump, DOGE's trading volume is also pumping by 9.6%, with a trading volume exceeding 11.6 billion US dollars in a day. Such a huge trading volume proves that there is enough liquidity to drive the trading volume of meme coins, which is a unique driving force for price pumps.
In the past week, DOGE has dropped from a high of $0.4109 to a low of $0.27. While the pullback of Bitcoin is the only pathogenic factor, DOGE has also joined the ranks of shitcoins. As the market is in recovery mode, the token has not yet reached the weekly high, which means there is enough room for growth.
On-chain indicators also indicate the activity within the DOGE ecosystem. As seen on IntoTheBlock, whale transactions show activity. This indicator accounts for at least $100,000 in DOGE transaction value, soaring 41.12% to $23.35 billion.