Dogecoin Surges 6% to $0.181 as Bulls Eye Breakout Toward $0.188 Resistance
Dogecoin (DOGE) is looking bullish, up around 6% to $0.1811. It's making a comeback after nearly 2 weeks of trading, losing its grip.
Quick overview
- Dogecoin (DOGE) has risen approximately 6% to $0.1811, showing signs of a bullish comeback after a two-week decline.
- Trading volume for DOGE surged by 180% to $649.5 million in 24 hours, indicating increased interest from both retail and institutional investors.
- Technical indicators suggest that if DOGE breaks above $0.1881, it could rally towards $0.2025-$0.2178, while maintaining above $0.1800 is crucial for continued momentum.
- The overall sentiment in the crypto market is optimistic, with other meme coins like Shiba Inu (SHIB) also experiencing gains.
Dogecoin (DOGE) is looking bullish, up around 6% to $0.1811. It’s making a comeback after nearly 2 weeks of trading, losing its grip. The momentum is back as traders once again buy up high-beta cryptocurrencies. All of this comes after Donald Trump’s comments that he would put tariff money toward $2000 stimulus payments, sending speculators into a frenzy—people are now speculating that looser fiscal policy will make it easier for people to invest in digital assets.
That statement caused a sudden surge in people looking to invest – it’s starting to sound a lot like what happened in 2021 when Dogecoin & Shiba Inu (SHIB) were the talk of the town and everyone was buying them up. Within just 24 hours, DOGE saw its trading volume shoot up 180% to $649.5 million, its highest intraday volume in over a week.
Institutional Flow Lifts Sentiment
Lots of large trades and a big spike in trading volume during US trading hours suggest some big players, like institutions, are really getting in on the action. On-chain data shows buyers have been holding firm just above $0.174, where they defended their positions before the breakout.
Key Points to Note:
- DOGE jumped from $0.1722 to $0.1811 in just a couple of hours.
- In 24 hours, the trading volume tripled the average.
- The fact that wallet inflows & the depth are both rising suggests institutions are getting involved.
At the same time, lots of other meme coins like Shiba Inu (SHIB) and PEPE are going up too, suggesting that people are really optimistic about the whole space and feeling a little more reckless.
Dogecoin (DOGE/USD) – The Breakout Points to Bullish Continuation
On the 4-hour chart, DOGE/USD is forming a breakout from a descending triangle, pushing up against the trendline resistance near $0.1881. The 20 EMA is turning upward and meeting the 200 EMA, which often signals a big rally is just around the corner.
The RSI is at 61, which means momentum is picking up, but we’re not overbought yet, and the candles are showing higher lows, which is a good sign of market strength.
The Short Term Outlook:
- If DOGE breaks above $0.1881, it might open the way to $0.2025-$0.2178.
- If it falls below $0.1719, we might see another dip before it goes back up.
- The line in the sand is at $0.1800—if DOGE can hold above that, we’re looking good for a bit of a run.
Market Outlook: Expecting Volatility With an Upside Bias
DOGE is still looking strong, with the big players getting in on the action, and risk appetite is going up. While it’s always possible we might see some ups and downs in the short term, as long as DOGE stays above $0.1800, it’s all good.
If we keep the momentum we have now, Dogecoin could push towards $0.20 and show it’s still the go-to barometer of people’s appetite for risk in the crypto market.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save