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Title: $9.38 Billion Dogecoin in One Day; Reasons Behind It?
As the cryptocurrency market continues to experience significant fluctuations, one coin has managed to defy expectations by making a remarkable comeback. In the past 24 hours, dogecoin (DOGE) has seen an astonishing influx of trading activity, with over $9.38 billion worth of transactions recorded.
Despite initially plummeting by 2.34% to reach $0.2647, DOGE has made a stunning recovery and is now set to retrace its upward path. The sudden surge in open interest has sparked interest among traders and investors alike, leading to speculations about the driving factors behind this extraordinary growth.
An examination of trading data reveals that Gate.io, Binance, and Bybit exchanges have seen an unprecedented level of DOGE activity. This is particularly noteworthy, as these platforms typically do not host a significant portion of their combined total open interest.
Source: u.today
