The trading volume is the total amount of trading for that specific coin that occurs in all crypto trading exchanges for a period of time. Volume can be measured on any cryptocurrency during a selected time frame.
Trading crypto volume helps us to identify the time when a particular coin trades higher than usual. When the volume is higher usually the price fluctuates more. So when trading volume increases or decreases significantly, we can interpret that something is brewing up. it can be due to the news or any other events. By comparing daily trading volume, it helps us to spot rises, declines, and also trend reversals for that coin.
We analyze the daily volume percentage change for the top 20 coins every day. When the percentage change number gets bigger, it means that a particular coin is trading at a higher volume than the previous day.
For example, $DOGE 163.3089% means dogecoin's daily volume has increased 163% from yesterday's volume. This volume increase can lead to stronger price fluctuation for dogecoin as dogecoin is getting more attention from traders than before.
Crypto volume % change can be tricky and we cannot identify trend direction by analyzing volume only. It can only tell us there is a higher trading volume for that particular coin.