At present time, DOGE is trading at $0.06605 after eyeing almost 3% price hike in 24 hours and a 15% price increase in the last seven days of trading.
With the market showing some signs of recovery, whales are potentially staking more DOGE ahead of a potential recovery run.The potential reason behind the spike in the number of transactions on the Dogecoin network might be the increased activity of whales.
The creator of Dogecoin highlighted the massive spike in the number of transactions on the chain as the metric suddenly hit almost 70,000 operations in the last 24 hours.
The spike in the number of transactions on Doge was followed by the unexpected recovery of the cryptocurrency market.
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