Dogecoin Spikes 62% in Volume, Will It Trigger Price Breakout?

Although DOGE is down 13.2% so far this month, investors are still bullish that the coin will trade in green before October 2025 ends.

Besides, technical analysis revealed a bullish breakout is imminent for DOGE. Notably, the price has formed a symmetrical triangle pattern on the 12-hour chart.

This consolidation phase usually follows a major upward move, indicating a potential continuation of the bullish trend.

Factors contributing to volume surge

Meanwhile, the DOGE price has not yet reflected the rally in trading volumes. In the past 24 hours, the DOGE price has declined by 0.24%, setting the price at $0.2022.

Thus, the volume surge appears tied to a broader cryptocurrency market rally. Bitcoin, the top market coin, is climbing toward $115,000, and the Ethereum price is moving close to $4,200.

You Might Also Like

Another key development possibly contributing to the volume surge is the recent spike in Dogecoin whale activity.

As revealed by the U.Today report, a dormant Dogecoin whale with a 36 DOGE seed recently executed a $26.8 million transfer to Binance.

Since that activation, the wallet has amassed a sizable position, directing most of the DOGE tokens into Binance.

Before this transaction, another dormant DOGE whale reemerged, moving 15.115 million DOGE, valued at about $2.95 million, from Binance.