Dogecoin Surges 2.4% as Institutional Buyers Drive Market Activity
Dogecoin (DOGE) Update
Dogecoin rose 2.4% in the last 24 hours, from $0.192 to $0.197. This increase is attributed to institutional buying amid global economic uncertainty.
Key points:
- Breakout above $0.194 resistance indicates confidence in DOGE as a hedge against market volatility.
- $20 million DOGE transfer to Coinbase raises speculation about whale or institutional accumulation.
- Increased on-chain activity highlights DOGE’s liquidity and appeal despite broader market instability.
Price Action Analysis
DOGE is in an uptrend with significant volume spikes confirming breakouts:
- Support at $0.194 established; next resistance at $0.198-$0.200.
- Break above $0.200 could lead to gains towards $0.205.
- Hourly breakout at 19:28 pushed prices to $0.198 with volume of 10.17M.
- Ongoing higher-lows pattern suggests accumulation and potential retest of resistance levels.