{"id":302356,"date":"2021-07-19T08:41:11","date_gmt":"2021-07-19T05:41:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/daily-dogecoin-volume-soared-to-nearly-1b-during-q2\/"},"modified":"2021-07-19T08:41:11","modified_gmt":"2021-07-19T05:41:11","slug":"daily-dogecoin-volume-soared-to-nearly-1b-during-q2","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/daily-dogecoin-volume-soared-to-nearly-1b-during-q2\/","title":{"rendered":"# Daily Dogecoin volume soared to nearly $1B during Q2"},"content":{"rendered":"

“# Daily Dogecoin volume soared to nearly $1B during Q2 <\/strong>”
\n<\/p>\n

Trading volume for Dogecoin increased by more than 13 times during the second quarter for 2021, nearly tagging $1 billion daily.<\/p>\n

According to data compiled by Coinbase and reported by Business Insider, Dogecoin trading volumes soared 1,250% between April and June, with $995 million worth of DOGE changing hands daily on average during the quarter.<\/p>\n

By comparison, Dogecoin\u2019s average daily volume for the first quarter was $74 million.<\/p>\n

Dogecoin started the year priced at just $0.004 and saw its first uptick in early February when prices jumped 50% when Tesla CEO Elon Musk embarked on his Twitter<\/a>-shilling campaign\u00a0in support of the meme-coin.<\/p>\n

A massive rally was to follow as Musk ramped up the Dogecoin hysteria, sending the Shiba Inu-theme<\/a>d coin to an all-time high of $0.731 on May 8. The move culminated in a whopping 18,000% gain since the beginning of the year.<\/p>\n

Despite many crypto commentators attributing Dogecoin\u2019s meteoric 2021 performance to Twitter-shilling from Tesla CEO, Elon Musk, Business Insider speculates<\/a> that Dogecoin\u2019s impressive performance would not have been possible without the spate of DOGE listings on major exchanges witnessed during Q2 \u2014 including Gemini and eToro in May, and Coinbase in June.<\/p>\n

According to Coinbase\u2019s data, the second quarter also saw global cryptocurrency trading volume increase by 32% overall, with nearly $19 billion worth of digital assets changing hands daily. The data suggests that DOGE represented more than 5% of combined crypto volume during Q2.<\/p>\n

However, in its quarterly cryptocurrency report<\/a>, GoinGecko estimates roughly $81 billion worth of digital assets were traded daily during Q2, indicating DOGE comprised 1.2% of quarterly crypto volume. <\/p>\n

Related:<\/em><\/strong> <\/em>Trip<\/a>le-digit gains make Dogecoin and Ethereum Classic the top performers of Q2<\/em><\/p>\n

Despite the record rally, Dogecoin has suffered extreme losses since its all-time high, having plummeted 75.3% from its May 8 all-time high of $0.181, according to CoinGecko. However, DOGE is still up 4,425% since the start of 2021.<\/p>\n

The Tesla CEO appears to have returned to his DOGE-shilling ways, changing his Twitter profile picture to done \u201cDoge-eyes\u201d on July 18 to show his ongoing support for Dogecoin. <\/p>\n

While DOGE quickly spiked 18% over two hours in response to Musk\u2019s new profile image on Sunday, its gains were quickly erased, with the meme-coin now trading 2.5% higher than it was prior to Musk changing his profile picture.<\/p>\n