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Dogecoin (DOGE) extended its bullish momentum on Tuesday, climbing 1.8% and solidifying its position above the $0.1988 resistance level. The meme-inspired cryptocurrency rose from $0.19 to $0.199 amid surging trading volume, with over 674.52 million DOGE changing hands — a 170% jump above its 24-hour average. The heightened activity suggests renewed institutional participation and accumulation near the psychological $0.20 level following a week of consolidation below $0.195.
The breakout began during the 23 October 11:00 trading window, when DOGE spiked from $0.1963 to $0.1995 in one of the most active sessions of the month. Institutional inflows dominated this surge, propelling the token through resistance on strong technical confirmation. Following the move, Dogecoin maintained a tight consolidation range between $0.1990 and $0.2003, reflecting a healthy balance between profit-taking and renewed buying pressure. Buyers consistently defended intraday lows above $0.1974, signaling a strong accumulation phase rather than short-term distribution.
Technically, DOGE is forming an ascending channel that supports a continuation pattern. The decisive breakout above $0.1988 confirms bullish bias, while stable consolidation near $0.20 suggests market preparation for another leg higher. Momentum indicators like RSI and MACD continue to flash bullish signals, with volume trends affirming sustained institutional interest. Key support lies between $0.1974 and $0.1980, while a confirmed move above $0.2003 could open the path toward $0.2020–$0.2050.
Traders are now watching if DOGE can maintain support above $0.1985–$0.1990 — the critical pivot zone for continuation setups. A breakout beyond $0.2003 could trigger momentum-driven buying and algorithmic trades toward the $0.21 target. On-chain data also shows a 2.1% rise in whale wallet inflows over 48 hours, reinforcing the bullish accumulation narrative that could fuel Dogecoin’s next major price advance.
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