Dogecoin (DOGE) rallied nearly 5% over the past day, climbing from $0.18 to $0.20 as strong volume and renewed investor interest drove a sharp recovery.
The token’s price formed a classic V-shaped bounce off key support levels, highlighting growing buying pressure from both retail participants and institutional players.
Key Factors Behind the Move:
- Optimism around a possible SEC approval for a Dogecoin ETF continues to build, with Polymarket data placing the odds at 51% for 2025. This potential approval could open the door to significant institutional inflows.
- Integration with Coinbase’s Base network has expanded DOGE’s DeFi use cases, increasing its utility and appeal across platforms.
- Uncertainty in traditional markets due to geopolitical and trade tensions keeps DOGE attractive as a speculative asset and possible hedge.
- Whales and high-volume traders remain active, signaling ongoing interest despite wider market headwinds.
Market Action Summary:
From 11:00 to 13:00 UTC, DOGE’s trading volume surged to over 500 million coins per hour — more than doubling its average. This surge pushed prices to a resistance zone near $0.198–$0.199, with solid support at $0.194.
The strong buying created a V-shaped recovery pattern, suggesting buyers are confident in the token’s near-term prospects.
Technical Overview:
- Price rose from $0.189 to $0.199, a 4.8% gain.
- Volume peaked at 541 million and 589 million during the midday session.
- Key resistance now lies between $0.198 and $0.199; support remains firm at $0.189.
- V-shaped recovery visible in late trading, with notable buying at $0.194.
- Late volume spikes reinforce bullish momentum.
- A new resistance around $0.196 suggests the uptrend may continue.
