Dogecoin Surges 11% as Institutional Inflows Drive Volume Spike
Dogecoin surged 11% in 24 hours, challenging the $0.22 threshold due to significant institutional inflows, quadrupling its daily average volume. Traders focus on whether it can sustain and extend gains toward $0.24–$0.25.
Key Developments
- Rally from Oct. 12 to Oct. 13, moving from $0.19 to $0.21, peaking at $0.22.
- Institutional activity and meme-coin rebound driving momentum.
- Open interest and on-chain accumulation indicate professional market re-entry.
Price Action Summary
- DOGE increased 11%, trading within a $0.02 band.
- Volume spiked to 2.54 B, four times the 685 M daily average.
- Support established at $0.19; resistance at $0.22.
- Consolidation above $0.21 suggests sustained momentum.
- Final push above $0.22 with 18.6 M volume indicates ongoing institutional interest.
Technical Analysis
- Support level at $0.19 is crucial.
- Resistance at $0.22 under continuous testing.
- Ascending trendline with positive MACD and RSI signals.
- Sustained closes above $0.22 target $0.24–$0.25, while dips below $0.20 may lead to short-term declines.
Traders' Focus
- Confirmation of breakout with a close above $0.22.
- Continuation of institutional interest into weekend trading.
- Momentum towards the $0.24–$0.25 range.
- Meme-coin rotation flows and ETF discussions affecting sentiment.