Dogecoin (DOGE) surged nearly 6% over the past 24 hours, marking a sharp reversal from its recent sl
Dogecoin (DOGE) surged nearly 6% over the past 24 hours, marking a sharp reversal from its recent sluggish performance as institutional interest appears to be driving renewed optimism.
Price-Action
According to CoinDesk Research's technical analysis model, the token rose from $0.191 to $0.200, fueled by strong technical momentum and high-volume trading that saw peak volume hit 470 million units during the 01:00 hour.
The rally comes at a time of heightened global economic uncertainty, with geopolitical tensions weighing on risk assets across the board.
Despite this backdrop, Dogecoins price action has defied broader market trends, breaking through key resistance at $0.193 and forming a new support level at $0.200 after brief consolidation.
Technical analysis highlights DOGEs strong uptrend, with higher lows and higher highs forming throughout the period.
The most aggressive buying occurred during the final four hours of the session, with volume spikes at 01:43 (32.9M units) and 01:46 (37.3M units) underscoring significant institutional accumulation.
A notable $20 million DOGE transfer to Coinbase coincided with the launch of the SHIB DAO, sparking renewed interest in the
meme coin
sector and potentially contributing to the surge.Technical Analysis Recap
As DOGE heads into the next trading session, traders will be watching closely to see if the meme coin can sustain its momentum amid broader market volatility.
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