This growth suggests broader participation in Dogecoin network
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Total fees are often indicative of levels of activity. Typically, when fees rise, it indicates that a large number of users want to transact in relation to a blockchain's throughput. As demand grows, users are willing to pay higher fees to complete their transactions.The number of active addresses has also increased, rising from 40,420 to 51,320 in the last 24 hours.
Cryptocurrencies fell on Monday amid a global market sell-off triggered by recession fears. These moves reflect a broader market sell-off that began last week when a weaker-than-expected July jobs report fueled investor concerns about a recession.On the upside, a decisive break above the daily moving averages 50 and 200 might allow Dogecoin to escape the current consolidation range it had been since mid-April.
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