Dogecoin is gaining momentum amid the growing demand for the leading meme token, which has sparked an incredible surge in its on-chain activity.
Following the sudden spike in its on-chain activity seen in the past week, Dogecoin's transaction volume has surged to about $800 million on April 16.
While this is the biggest amount of transaction volume recorded so far this year, it also marks the highest single-day surge in the metric seen in 2026.
Dogecoin records about 241% on-chain surge
Popular crypto analyst Ali Martinez shared charts from Santiment revealing a clear upsurge in the Dogecoin transaction volume.
The chart showed that the transaction volume recorded on April 15 was way below the highlighted $234 million, which was followed by a dramatic surge up to nearly $800 million the next day.
While the daily on-chain surge saw more than triple the previous volume, the transaction volume skyrocketed by over 241% within the 24-hour period.
This spike suggests that high-profile investors, including institutions, are gaining renewed interest in the leading meme asset.
Dogecoin is set to remove zero
The surge in Dogecoin's transaction volume coincides with the broader crypto market resurgence, where leading cryptocurrencies, including Dogecoin, are seeing notable price increases.
Following the broader price rally for DOGE, the asset has also seen a positive rebound in the Dogecoin ETF market. As such, it appears that the rising market momentum has reignited the attention of investors, thereby fueling the increased network usage.
With the sustained price rally seen over the past week, Dogecoin is on track to remove another zero, as its price is still trading around $0.09563 as of the time of writing, despite the cooled rally.
U.Today Editorial Team
Dan Burgin
