Dogecoin (DOGE) trading volume has soared 374% to $1.38 billion in the past 24 hours.
The altcoin jumped more than 10% this week to $0.077, the highest level since early June 2023. Dogecoin’s capitalization increased to $10.918 billion.
Elon Musk has once again sparked a DOGE rally. He announced a change in Twitter’s logo. The rebranding to “X” led to an increase in online activity. The result of its surge was an increase in the value of the altcoin.
In April, Twitter users urged Ilon Musk to make the symbol of digital currency Dogecoin the logo of the social network. At that time, it was also steadily gaining on the back of high transaction activity.
DOGE even surpassed bitcoin and lightcoin in the number of daily transactions on the blockchain.