Dogecoin Price Holds Ground After Volatile 5% Swing, Eyes Breakout Potential

Dogecoin (DOGE) navigated a sharp 5% trading range over the past 24 hours, highlighting both resilience and fragility as institutional liquidation flows tested market support. The meme coin touched lows of $0.251 before rebounding to $0.264, ultimately consolidating near $0.261 after a late-session selloff. Despite near-term pressure, analysts point to bullish technical patterns and strong speculative flows that could set the stage for a larger move.

During the October 2–3 session, DOGE posted a net 2.7% gain, as dip-buying demand offset heavy selling pressure. Institutional desks dominated trading activity, with a sudden 33M-token liquidation at 03:55 puncturing short-term momentum. Selloff volumes peaked at 666M tokens, while the recovery phase attracted 414M, underlining the intensity of two-way flows. Analysts noted that speculation tied to SBI and potential DOGE-related ETF developments continues to anchor broad investor interest.

Key support remains firm at the $0.251–$0.253 range, where buyers repeatedly stepped in to defend levels. On the upside, resistance has consolidated at $0.262–$0.264, capping multiple rebound attempts. The late-session drop back toward $0.260 underscored the influence of institutional liquidation, yet chart specialists remain optimistic. Technical readings highlight an ascending megaphone formation alongside hidden bullish divergence — indicators often associated with continuation moves. If DOGE reclaims strength above $0.262, upside targets toward $0.34 remain on the table.

Traders are closely monitoring whether the coin can stabilize above $0.260 during U.S. trading hours. A failure could trigger another retest of $0.251 support. Meanwhile, confirmation of bullish divergence and megaphone breakout setups will be key for a momentum-driven rally. Broader sentiment across meme tokens, supported by ETF speculation, could help re-anchor demand and push DOGE toward its next resistance zone.

At present levels, Dogecoin reflects both short-term vulnerability and longer-term potential. If buyers maintain control above support zones, the meme coin could be primed for another leg higher in the coming sessions.