Dogecoin experienced a 50% surge in trading volume, pushing its price close to $0.115. The meme coin now ranks as the tenth-largest asset in the futures market, with more than $1 billion in trading volume across the board.

DOGE Trading Volume Rises 50% in 24 Hours

The price of Dogecoin (DOGE) has jumped 5.2% today and is now approaching a key resistance level at $0.115, indicating that it is continuing its upward trend. A price increase of up to $0.15 is possible upon breaking this obstacle.

As U.Today reports, Dogecoin is currently gaining recognition as one of the leading cryptocurrencies, and its trading volume has increased significantly to accommodate this.

Dogecoin Becomes 10th Largest Asset in Futures

The DOGE perpetual futures market has witnessed a significant surge in Dogecoin trading activity, with a 50% spike in just one day. Per Coinglass, Dogecoin is now the tenth biggest asset in this specific derivatives market, with a trading volume of over $1 billion.

On a different point, it is important to bring up the statistics regarding the spot market for Dogecoin to mention.

According to CoinMarketCap, DOGE's turnover has reached an astounding $584.4 million, a huge 24.26% increase. Not adding stablecoins like USDT and USDC, that places Dogecoin at number seven in terms of spot market turnover.

Total DOGE Trading Volume Surpasses $1.58 Billion

It is rather remarkable that the total trading volume of Dogecoin in both the spot market and the futures market is now over $1.58 billion. This makes it one of the most valuable cryptocurrencies in the world.

Trade volume is 10% of the market cap, which indicates that trading is becoming more busy and that more people are interested in the meme coin market, as the market size is $32.35 billion.

The fluctuating price and volume of Dogecoin trades recently indicate that more and more individuals are participating in the market, which the cryptocurrency market is keeping a watch on.