{"id":166432,"date":"2021-01-29T16:36:30","date_gmt":"2021-01-29T13:36:30","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/dogecoin-trading-volume-hits-5b-surpassing-bitcoins-for-the-first-time-ever\/"},"modified":"2021-01-29T16:36:30","modified_gmt":"2021-01-29T13:36:30","slug":"dogecoin-trading-volume-hits-5b-surpassing-bitcoins-for-the-first-time-ever","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/dogecoin-trading-volume-hits-5b-surpassing-bitcoins-for-the-first-time-ever\/","title":{"rendered":"# Dogecoin trading volume hits $5B, surpassing Bitcoin&#8217;s for the first time ever"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36d03a1dcce\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36d03a1dcce\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/dogecoin-trading-volume-hits-5b-surpassing-bitcoins-for-the-first-time-ever\/#What_was_behind_the_craze_around_DOGE\" >What was behind the craze around DOGE?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/dogecoin-trading-volume-hits-5b-surpassing-bitcoins-for-the-first-time-ever\/#What_happens_to_DOGE_next\" >What happens to DOGE next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Dogecoin trading volume hits $5B, surpassing Bitcoin&#8217;s for the first time ever <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Dogecoin (DOGE) briefly surpassed Bitcoin (BTC) in daily volume on Binance at over $5 billion on Jan. 29.\u00a0<\/p>\n<p>This is a first for Dogecoin, and it h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened as the price of DOGE surged around eightfold overnight from $0.012 to over $0.08.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/e09a37d1-026c-44fe-be14-95656dde61e0.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>DOGE\/USDT 15-minute price chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"What_was_behind_the_craze_around_DOGE\"><\/span>What was behind the craze around DOGE?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The meteoric rally of DOGE was fueled by posts and tweets from r\/Wallstreetbets traders on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> and Reddit. In fact, the tweet volume also soared to new record highs, surpassing BTC for the first time ever.\u00a0<\/p>\n<p>The craze around <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>Stop (GME) moved over to silver and DOGE as a result, causing massive rallies in a short period.<\/p>\n<p>The suspension of the trading\u00a0of GME on Robinhood also catalyzed the DOGE rally, industry executives say.<\/p>\n<p>On Jan. 29, Robinhood abruptly halted the trading of GME, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.forbes.com\/advisor\/investing\/robinhood-gamestop-trading\/\" data-amp=\"https:\/\/www-forbes-com.cdn.ampproject.org\/c\/s\/www.forbes.com\/advisor\/investing\/robinhood-gamestop-trading\/?amp\">causing<\/a> outrage among its users and several lawmakers.<\/p>\n<p>Some theorize that the trading halt enraged many users and led them to turn their eyes to other assets. Among other assets, many traders in the r\/Wallstreetbets community were attracted by DOGE and silver.<\/p>\n<p>Mike Abundo, tcommittee chairman at Fintech Philippines, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MikeAbundo\/status\/1355040156688891906\">said<\/a>:<\/p>\n<blockquote><p>\u201cIf you had just remembered that $DOGE was always the most popular memecoin on Robinhood, and figured out that Robinhooders blocked from memestocks would go for a memecoin instead, you might be fantastically wealthy by now.\u201d<\/p><\/blockquote>\n<p>Almost immediately after DOGE saw its rally, Bitcoin saw a sudden surge as\u00a0Elon Musk, the world&#8217;s richest man, added \u201cBitcoin\u201d to his Twitter bio.<\/p>\n<p>While Bitcoin most likely rallied due to Musk\u2019s unexpected addition of the word \u201cBitcoin\u201d to his bio, some of the profits from DOGE could have also flown back into BTC to propel its price.<\/p>\n<p>While some may think that DOGE is too small to affect the price of a major cryptocurrency like Bitcoin, it briefly became the eighth-largest cryptocurrency in the world.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/2b4410f6-23ba-45a5-9c3e-2414aa3d8836.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Dogecoin price and Sentiment. Source: TheTie<\/em><\/figcaption><\/figure>\n<p>With over $5 billion in daily volume, there is sufficient capital in DOGE trading that it could have a significant impact on the short-term price trend of Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_to_DOGE_next\"><\/span>What happens to DOGE next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Some pseudonymous traders and analysts believe DOGE could have one more run up toward $0.01.<\/p>\n<p>There is also an ongoing meme on r\/Wallstreetbets and other related forums about pushing DOGE to $1. A trader known as \u201c0x_Infinitum\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMessiah\/status\/1355037417653358592\">said<\/a>:<\/p>\n<blockquote><p>\u201cIMO $Doge still has one more push. A big one. Just big enough for people to actually start believing the $1 meme. That&#8217;s when lifelong community members will be made.\u201d<\/p><\/blockquote>\n<p>Although DOGE is considered a \u201cmemecoin,\u201d its recent rally pushed its valuation to over $7 billion. If DOGE rallies toward $1, it would make it the second-biggest cryptocurrency behind Bitcoin.<\/p>\n<p>It already briefly overtook Litecoin (LTC) earlier today as its parabolic trend continued. At the time of writing, DOGE price is up roughly 340% in the past 24 hours\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/dogecoin-trading-volume-hits-5b-surpassing-bitcoin-s-for-the-first-time-ever\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Dogecoin trading volume hits $5B, surpassing Bitcoin&#8217;s for the first time ever &#8221; Dogecoin (DOGE) briefly surpassed Bitcoin (BTC) in daily volume on Binance at over $5 billion on Jan. 29.\u00a0 This is a first for Dogecoin, and it happened as the price of DOGE surged around eightfold overnight from $0.012 to over $0.08&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":166433,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDEvMWIxMGUyMzgtZDg2Yi00ZmUxLTlhZDYtYjFhOTlkNTRkOTY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74937,86883,74939,73785],"class_list":["post-166432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin-price","tag-dogecoin","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/166432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=166432"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/166432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/166433"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=166432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=166432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=166432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}