Dogecoin Surges 6.2%, Flips TRX Amid Institutional Accumulation and Meme Revival

Dogecoin (DOGE) jumped 6.2% from $0.197 to $0.209 between July 16 at 05:00 and July 17 at 04:00, fueled by institutional interest and a broader meme coin resurgence. The price peaked at $0.22 during the 14:00–21:00 window before retracing slightly, with strong rejection noted between 21:30 and 22:15.

A staggering 1.22 billion DOGE tokens traded at 21:00 — nearly triple the daily average of 490 million and the highest volume spike since March. This explosive volume helped DOGE overtake TRON (TRX) to become the eighth-largest cryptocurrency, reaching a $30 billion market cap. Notably, the final hour of trading saw a 0.96% gain from $0.207 to $0.209, with a late surge in volume to 19.03 million at 04:32, hinting at coordinated accumulation by whales.

Analysts link the rally to fund rotations following XRP’s ETF-driven move, with DOGE becoming a preferred short-term play. Its high liquidity, social momentum, and clear technical structure make it appealing for institutional strategies, particularly in a low macro-risk environment.

Technically, the breakout above $0.201 was confirmed by a volume tripling move. DOGE faces resistance at $0.22, with the $0.21–$0.212 range now acting as a pivot zone. Repeated intraday bounces around $0.207–$0.208 reinforce support, while RSI at 69 leaves room for further upside.

Traders are watching for a solid hold above $0.21 to confirm continued bullish momentum, with targets at $0.24–$0.25 if $0.22 is broken. A failure to hold $0.207 may trigger a drop toward $0.199. With ETF hype cooling, DOGE could attract more capital rotation into the weekend.