Dogecoin Jumps 5% as Trump Stimulus Talk Fuels Meme Coin Rally
DOGE breaks $0.1800 amid institutional flows and renewed risk appetite
Dogecoin surged 5.2% to $0.1811 on Tuesday, clearing the $0.1800 resistance level as institutional buying accelerated. The rally coincided with a broader rebound in meme coin sentiment, spurred by U.S. President Donald Trump’s weekend remarks pledging $2,000 dividends funded via tariffs, which boosted rotation into speculative assets.
Macro and Market Context
Trump’s comments, in which he called non-tariff supporters “fools,” reignited expectations for looser fiscal conditions and increased domestic liquidity, supporting risk-on trades. Traders also noted simultaneous inflows into SHIB, signaling renewed interest in high-beta meme tokens following a short consolidation period.
Volume surged to 649.5 million DOGE, roughly 180% above the 24-hour average, confirming strong institutional accumulation.
Technical Analysis
DOGE advanced from $0.1722 to $0.1811, peaking at $0.1826 before a minor pullback to $0.1804, retesting breakout support.
- Higher lows at $0.1745, $0.1761, and $0.1782 indicate an emerging ascending channel.
- RSI near 61 and MACD positive confirm bullish momentum.
- DOGE trades above 20- and 50-hour moving averages, reinforcing short-term trend strength.
Outlook
Traders are watching the $0.1800–$0.1804 support band:
- Sustained closes above $0.1838 could target $0.1860–$0.1900.
- Failure to hold support risks a retracement to $0.1740–$0.1750, though institutional buying may limit downside.
Meme coins remain speculative proxies amid macro uncertainty, and Trump’s fiscal rhetoric could continue driving flows into high-beta digital assets through mid-November.
