Addressable activity in the Dogecoin network (DOGE) has been increasing since the beginning of this week. If on May 1, the average daily number of transactions on the blockchain was 17,889, then on May 4 it increased to 23,754, according to data from the Bitinfocharts service.
Now network activity is at its highest level since mid-April. The Dogecoin hashrate is also growing, the day before it reached 711.94 terahesh per second.
The DOGE rate on the night of Friday, May 5, dropped to $0.0784. Altcoin capitalization decreased by almost 3% in a week to $10.917 billion.
The digital currency is in a stagnation phase, but the gradual increase in targeted activity hints at the imminent return of turbulence.
Recall that in May 2021, Dogecoin tested values in the region of $ 0.737. Elon Musk provoked the rise of the coin, periodically mentioning it since 2020.