Dogecoin Trading Volume Surges Past $1 Billion Amid Buying Pressure

Dogecoin (DOGE), the popular meme-based cryptocurrency, has seen its 24-hour trading volume soar to $1.05 billion, reflecting a 46% surge according to CoinMarketCap. Despite the spike in trading activity, DOGE’s price has shown only modest gains, rising 1.68% to $0.1782 at the time of writing. This suggests early signs of renewed buying interest as the asset attempts to recover from recent declines.

DOGE had declined for five consecutive days after peaking at $0.206 on June 11, briefly testing support around $0.17 on June 13. Analysts believe the next directional move will hinge on whether the $0.17 support level holds. A break below could lead to further losses toward $0.16, and potentially $0.14. If DOGE fails to find buying support at $0.14, a drop to $0.10 may follow.

Crypto analyst Ali noted multiple buy signals on the 12-hour TD Sequential chart and stressed the importance of holding above $0.168 to avoid a potential 30% correction. On the upside, resistance lies between $0.20 and $0.25, near the 50- and 200-day simple moving averages. A decisive breakout above this zone could trigger strong bullish momentum, potentially pushing DOGE toward the $0.38–$0.49 range.

Traders are closely watching the $0.26 mark as a critical breakout level. A sustained move above it could initiate a strong uptrend, while a fall below $0.14 may deepen the bearish outlook. With trading volume surging and technical indicators flashing green, Dogecoin appears poised for heightened volatility and potential trend reversal in the coming days.