Dogecoin is showing signs of unusual activity. While many major cryptocurrencies are noting drops in key metrics, Dogecoin’s on-chain data is pointing in a different direction.
According to IntoTheBlock data, one standout figure is the crypto asset’s large transaction volume.
Over the last 24 hours, Dogecoin saw $23.35 billion worth of large transactions. That’s a 41.12% increase—the biggest jump compared to Bitcoin and Ethereum.
A sudden rise in this volume means large holders, or whales, are making moves. For traders, that kind of shift often happens before price changes hit the broader market.
Compared to Bitcoin and Ethereum, Dogecoin’s higher performance stands out. Both BTC and ETH are down and showing drops in large transactions. But DOGE is pulling in more users and bigger moves.
In the past 24 hours, large transaction volume for Dogecoin has more than doubled the large transaction volume of Ethereum, which sits at $9.97 billion after a 6.64% drop. Bitcoin, despite being the largest asset by market cap, recorded $56.06 billion in large transfers, but saw a 16.06% decrease in volume.
This contrast is significant. While both Bitcoin and Ethereum are seeing reduced whale activity, Dogecoin is moving in the opposite direction.
DOGE active addresses jump 35%
At the same time, daily active addresses for Dogecoin are up 34.91%. It saw a 34.91% increase, bringing the number to 157,190. That’s well above Ethereum’s 1.39% increase and Bitcoin’s gain of 3.75%. While Bitcoin and Ethereum still lead in raw numbers, DOGE’s percentage growth far outpaces them.
This means more wallets are interacting with Dogecoin right now at a much faster rate than they are with the two biggest networks. The combination of more people using DOGE and more whales moving large amounts is rare.
For investors, these metrics suggest growing network demand, which is an important sign for any asset that claims to be used regularly. These on-chain signals don’t always mean a price rally is coming, but they often precede market movement, especially when the pattern is this sharp.
This activity doesn’t confirm a trend reversal, but it highlights increased interest from the network’s biggest participants. It’s worth noting that the price of DOGE hasn’t surged yet. In fact, it’s down 5.9%, according to CoinMarketCap data.
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