Dogecoin Surges 8% as Institutional Demand and ETF Buzz Drive Volume Spike

Dogecoin (DOGE) rallied 8.7% in the 24-hour session ending July 21 at 03:00, climbing from $0.255 to $0.271 amid a surge in institutional interest and trading volume. The breakout began around 16:00, propelling DOGE to an intraday high of $0.277 before settling just below that level. Trading volume peaked at 2.01 billion DOGE, nearly triple the average of 724 million, signaling strong conviction from institutional players.

Over the past 48 hours, institutional wallets accumulated over 1.08 billion DOGE—valued at approximately $250 million—highlighting growing confidence in DOGE as a liquid treasury asset amid global economic uncertainty. Analysts suggest corporate adoption of crypto, particularly meme coins with high liquidity like DOGE, is becoming a trend as firms diversify holdings.

Technical indicators confirm a bullish setup, with DOGE forming higher lows and breaking multiple resistance levels. Key support has established at $0.264, with resistance near $0.277. Short-term consolidation is expected between $0.266 and $0.274, but a sustained breakout above $0.277 could open the door to a run toward $0.295–$0.315, according to Bitget analysts.

Adding to the momentum is speculation around a potential Dogecoin ETF. Following the success of ETH and XRP-based products, DOGE ETF approval odds have climbed to 80% on prediction platforms like Polymarket. Traders are closely monitoring closes above $0.272–$0.275, which could confirm a new support level and further validate DOGE’s growing role in institutional portfolios.

The final hour of trading saw DOGE gain another 0.74%, reinforcing bullish sentiment. A key spike occurred between 02:39–02:41, with 19.4 million DOGE traded, pushing the price above $0.270 before closing just under the session high.