DOGE Surges 8% as Trading Volume and Active Addresses Increase

Dogecoin (DOGE) has experienced significant volatility in the past 24 hours, with its price recovering by approximately 8% to trade between $0.2216 and $0.2318 as of May 19, 2025. This rebound follows a sharp decline of nearly 10% earlier in the week, amid heightened trading activity and increased network engagement.

Current market data shows Dogecoin's trading volume surged by over 60% in the last 24 hours, reaching between $2.27 billion and $2.75 billion, while its market capitalization climbed to a range of $31.99 billion to $34.58 billion, ranking it as the 8th largest cryptocurrency by market cap. The circulating and total supply remain at 149.32 billion DOGE, with no maximum supply cap. The price recovery is attributed to renewed interest from large holders, who accumulated over 1 billion DOGE in the past month, and a sharp increase in active addresses—up nearly 1000%. Despite recent selling pressure from "whales" unloading more than 170 million DOGE, technical indicators suggest a potential trend reversal, supported by declining selling pressure and bullish signals. Broader market volatility, particularly declines across major cryptocurrencies, has also influenced Dogecoin’s recent price movements.