Dogecoin Rallies 4.8% Amid Increased Trading Volume and Speculation
Dogecoin (DOGE) Update
- DOGE increased by 4.8%, rising from $0.18 to $0.19.
- The rally shows significant trading volume and a V-shaped recovery, indicating resilience.
- Traders estimate a 51% chance of SEC approval for a DOGE ETF in 2025, which may attract institutional inflows.
- Integration with the Coinbase-backed Base network enhances DOGE's utility in DeFi applications.
- Geopolitical tensions and changing trade policies highlight DOGE's speculative asset status.
- Institutional whale activity suggests continued performance amid market uncertainty.
Price Action Details
- DOGE surged during the 11:00-13:00 UTC window, with volumes reaching 541 million and 589 million.
- Resistance is established at $0.198-$0.199; support is at $0.189.
- A V-shaped recovery pattern formed around the $0.194 level, indicating strong buyer interest.
- Volume spikes confirmed sustained buying interest, establishing new resistance at $0.196.