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Dogecoin (DOGE), Cardano (ADA) Trading Volumes Soar, Here Are Potential Reasons

Mon, 04/03/2023 - 15:07
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Yuri Molchan
These two cryptocurrencies have seen a substantial rise in trading volume over the past month unlike the other top 30 assets
Dogecoin (DOGE), Cardano (ADA) Trading Volumes Soar, Here Are Potential Reasons
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Prominent crypto trader and podcaster-interviewer Scott Melker has shared some interesting data on ADA and DOGE.

The screenshot he posted shows that over the past 30 days, just two cryptocurrencies on the top 30 list have shown a rise in trading volumes – the aforementioned ADA and DOGE.

Cardano’s native token’s volume went up nearly 16 percent, while the same metric for the original meme crypto DOGE made a surge of 42.72 percent.

Cardano Whales Make Radical Move, Adding 150 Million ADA as Price Keeps Rising

Potential reasons for this ADA and DOGE volume rise

As reported by U.Today recently, Cardano’s network has been expanding fast, adding more dev teams who are building on it (1,221 projects are being built on Cardano now, and there are 119 that have been released already), the transaction count soars, etc.

Besides, the major upgrade Hydra is on the horizon for Cardano. Earlier today, it was reported that over the past month, major whales had added 150 million ADA to their bags.

As for Dogecoin, it has demonstrated a price surge by over 13 percent over the past seven days. One of the factors that may have contributed to it is the sudden series of tweets from King Burger UK about Doge that may have led the meme token’s community to believe that the fast food giant might be interested in DOGE and not just flirting with the crypto community for their attention.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at