In the last week, DOGE, alongside other cryptocurrencies, suffered a significant price dip following reports of US enforcement action on the world’s largest exchange, Binance, and the company’s CEO, Changpeng “CZ” Zhao. In particular, DOGE recorded a cumulative price loss of 6.85%, ranking as one of the biggest losers in the last seven days, according to data from CoinMarketCap.

지난 주, DOGE는 세계 최대 거래소인 바이낸스와 이 회사의 CEO인 창펑 "CZ" 자오에 대한 미국의 집행 조치가 보고된 후 다른 암호화폐와 함께 상당한 가격 하락을 겪었습니다. 특히 코인마켓캡(CoinMarketCap)의 데이터에 따르면 DOGE는 누적 가격 손실 6.85%를 기록하며 지난 7일 동안 가장 큰 하락세 중 하나로 꼽혔다.

However, there are some positive developments regarding the meme coin, which indicate that investors may soon record a significant price gain.

DOGE Record Transactions Worth Over $100,000 – Price Gain Imminent? 

$100,000 이상의 가치가 있는 DOGE 기록 거래 – 가격 상승이 임박했나요?

In an X post on November 23, popular crypto analyst Ali Martinez shared that the DOGE market recorded $100,000 in transactions in the past month based on data from In The Block.

According to Martinez, this development marks a rising interest in DOGE from major institutional players as well as crypto whales, which means the maiden meme coin could be set for a price boost soon.

마르티네즈에 따르면, 이번 개발은 암호화폐 고래뿐만 아니라 주요 기관 참가자들로부터 DOGE에 대한 관심이 높아지고 있음을 의미하며, 이는 처녀 밈 코인의 가격이 곧 인상될 수 있음을 의미합니다.

#Dogecoin | There's a notable surge in $DOGE transactions exceeding $100,000 in the past month, consistently hitting new highs.

#도지코인 | 지난 달 $100,000를 초과하는 $DOGE 거래가 눈에 띄게 급증하여 지속적으로 최고치를 기록했습니다.

This uptick suggests increased interest in #DOGE from institutional players and whales, potentially gearing up for a significant price spike. pic.twitter.com/UpxVkfu9hW

— Ali (@ali_charts) November 23, 2023

— 알리(@ali_charts) 2023년 11월 23일

Providing more insight into this positive trend in the  DOGE market, blockchain analytics firm Santiment reported that 121 new wallets containing over 1 million DOGE have been created in the last month, terming it “a Sign of Big Money Interest.”

Santiment noted that Dogecoin has also recently recorded its largest spike in activity from dormant wallets, which indicates an incoming reversal of the token’s price trend, which is currently negative. 

Santiment는 Dogecoin이 최근 휴면 지갑에서 가장 큰 활동 급증을 기록했으며 이는 현재 부정적인 토큰 가격 추세의 역전을 의미한다고 지적했습니다.

Behind DOGE’s Rise In Transaction – Dogecoin Co-Founder Weighs In 

In explaining the driving force behind increasing Dogecoin transactions, the token’s founder Billy Markus, with the X username Shibetoshi Nakamoto pointed out the introduction of ordinals and shitcoins.

This information was revealed in a separate post on X in response to a crypto enthusiast who highlighted the “parabolic” trend in the number of transactions on the Dogecoin network.

이 정보는 Dogecoin 네트워크의 거래 수에서 "포물선" 추세를 강조한 암호화폐 애호가에 대한 응답으로 X의 별도 게시물에서 공개되었습니다.

ordinals and shitcoins using doge blockchain

Doge 블록체인을 사용하는 서수와 똥코인

— Shibetoshi Nakamoto (@BillyM2k) November 24, 2023

DOGE Ordinals, popularly known as “Doginals,” are quite similar to the Bitcoin Ordinals. They are referred to as DRC-20 token standards, which allow users to inscribe information on the smallest individual units of a Dogecoin, i.e., shibes.

"Doginals"로 널리 알려진 DOGE Ordinal은 Bitcoin Ordinal과 매우 유사합니다. 이를 DRC-20 토큰 표준이라고 하며, 이를 통해 사용자는 도지코인의 가장 작은 개별 단위, 즉 시베에 정보를 새길 수 있습니다.

With the DRC-20 standard, DOGE users can now create non-fungible tokens (NFTs) supported by the Dogecoin network. Understandably, this has led to a substantial rise in the transactions on the Dogecoin network.

While this development marks an increased network adoption, which could attract investors, the increase in transactions is also accompanied by high network fees, which may drive away network users. 

At the time of writing, DOGE trades at $0.078 with a 0.4% gain in the 24 hours. Meanwhile, its trading volume is up by 13.20% and valued at $374.16 million.

이 글을 쓰는 시점에서 DOGE는 24시간 동안 0.4% 상승하여 $0.078에 거래되고 있습니다. 한편 거래량은 13.20% 증가해 3억7416만 달러로 평가됐다.