$DOOD 1 The hourly trading volume was approximately $5.72 million, 5.4 times the previous average; the price rose 3.55% over the same period.
Let's break down the trading volume based on this data.
Multiples are relative: for a normally quiet coin, a several-fold increase may result from just one or two relatively large trades, while the same multiple in trading volume for a leading coin is much rarer.
Whether trading volume increases during a breakout is often considered one of the criteria for distinguishing a valid breakout from a false one: a breakout on declining volume is more likely to reverse.
The same data can mean very different things in different market conditions, so don't apply any single rule mechanically.
#DOOD
Just sharing my thoughts—don't take this as advice.
Let's break down the trading volume based on this data.
Multiples are relative: for a normally quiet coin, a several-fold increase may result from just one or two relatively large trades, while the same multiple in trading volume for a leading coin is much rarer.
Whether trading volume increases during a breakout is often considered one of the criteria for distinguishing a valid breakout from a false one: a breakout on declining volume is more likely to reverse.
The same data can mean very different things in different market conditions, so don't apply any single rule mechanically.
#DOOD
Just sharing my thoughts—don't take this as advice.