Dogecoin Bounces Back From Weekend Lows as Strong Volume Secures Support
Dogecoin staged a swift comeback after sinking to $0.143 over the weekend, climbing back above $0.153 as a surge in trading activity helped establish solid support and renew bullish confidence.
The weekend brought heightened volatility, with DOGE experiencing a sharp 9.1% price swing in just 24 hours. Heavy selling initially drove prices down, but buyers quickly stepped in around the $0.145 mark—a level that held firm during the worst of the decline.
Volume Surge Signals Renewed Momentum
During the 13th and 14th trading hours, DOGE trading volume spiked to more than five times its daily average, accompanying both the price drop and the rapid reversal. The influx of trading confirmed significant buying interest, cementing $0.145 as a crucial support zone.
In the final hour of the session, Dogecoin rallied from $0.152 to $0.153, breaking past a key resistance level at $0.153432 shortly after 04:58. An additional volume surge occurred at 05:11, with 10.7 million DOGE traded, driving prices to new local highs.
Macro Backdrop Adds Pressure to Markets
Dogecoin’s rebound comes amid broader market challenges. Inflation concerns, ongoing Federal Reserve policy debates, and geopolitical tensions—including intensifying global trade disputes—continue to create uncertainty for risk assets.
Despite these headwinds, Dogecoin’s resilience stands out among altcoins, suggesting strong confidence from traders and investors looking for opportunities during dips.
Technical Indicators Point to Further Upside
- DOGE fell from $0.157 to $0.143 before recovering to $0.153, marking a 9.1% daily price range.
- Trading volume during the sell-off and rebound surged over 5x the daily average.
- Higher lows formed between $0.145 and $0.152, hinting at an emerging uptrend.
- A breakout above $0.153 occurred just after 04:58, driven by strong volume.
- Another significant volume spike at 05:11 (10.7M DOGE) fueled further gains.
- DOGE stabilized above $0.152 by session’s end, suggesting more upside potential.
- Near-term resistance sits between $0.155 and $0.158, while $0.145 remains key support.
Dogecoin’s strong rebound and volume-driven breakout indicate growing optimism, leaving traders watching to see whether bullish momentum can carry the token higher in the coming days.
