Dogecoin Jumps Nearly 6% on Increased Institutional Demand and Volume Surge
Dogecoin (DOGE) rallied nearly 6% over the past day, breaking through significant resistance levels amid rising trading volumes and signs of institutional buying driving renewed market confidence.
According to CoinDesk Research, DOGE’s price advanced from $0.191 to $0.200, supported by robust momentum and a peak trading volume reaching 470 million tokens during the 01:00 trading hour.
Despite ongoing global economic uncertainties and geopolitical tensions affecting risk assets broadly, Dogecoin has defied the trend, surpassing resistance at $0.193 and establishing a new support level at $0.200 after a brief consolidation phase.
Technical patterns show a clear uptrend, marked by higher lows and higher highs. Notably, the most aggressive buying occurred in the final hours, with volume spikes of 32.9 million and 37.3 million tokens at 01:43 and 01:46, signaling likely institutional accumulation.
A key $20 million DOGE transfer to Coinbase coincided with the launch of the SHIB DAO, sparking fresh interest in meme coins and potentially amplifying the price surge.
Technical Highlights:
- Price rose 5.75% in 24 hours from $0.191 to $0.200
- Established higher lows and highs confirm a strong upward trend
- Resistance at $0.193 was decisively breached with volume support at $0.190
- Peak volume reached 470 million tokens at 01:00, highlighting strong demand
- Late session volume spikes point to institutional-scale buying activity
- Broke above the psychological $0.200 level, setting new support
- Closed session maintaining gains with lower volatility
Traders will be closely watching to see if Dogecoin can maintain this bullish momentum amid ongoing market volatility and geopolitical pressures.
