The digital currency Dogecoin (DOGE) is gaining in value this week thanks to high transaction activity by network users.
The rate of DOGE strengthened to $0.074, while capitalization increased by another 1.95% to $10.342 billion. Despite the growth in value, DOGE is still trading well below the local peak set in early April 2023 ($0.096).
The activity of DOGE addresses in May soared to an all-time high. The average daily number of transactions in the network exceeded 1 million. Last Wednesday, addresses realized 1.1164 million transactions, according to the BitinfoCharts service.