Dogecoin Tops $0.195 as Wyckoff Accumulation Signals Potential Upside
Dogecoin surged 2.4%, clearing resistance at $0.1953 on elevated institutional flows, suggesting accumulation within a Wyckoff-like structure. Analysts note that maintaining support above $0.194 could pave the way for further gains.
Market Overview
DOGE rose from $0.1911 to $0.1957 over the 24-hour session, trading 483 million coins, 68% above the daily average. The token formed successive higher lows at $0.1931, $0.1936, and $0.1949, indicating steady buying interest from larger holders.
The move coincided with broader strength across high-beta altcoins and Bitcoin’s rebound above $67,000, supporting bullish sentiment despite limited macro catalysts.
Technical Analysis
DOGE remains in a short-term ascending trend, with consolidation near session highs reflecting strength rather than exhaustion. Volume patterns indicate institutional accumulation during the breakout phase, while historical rounded-bottom formations suggest potential multi-week rallies. Momentum indicators remain positive, reinforcing the case for continuation if support holds.
Key Levels
Sustaining $0.194 is crucial for ongoing accumulation. A breakout above $0.20 could attract trend-following inflows, while a failure to defend support may trigger a retracement toward $0.188. Declining exchange-held DOGE reserves further underscore long-term holder confidence.
