Dogecoin Rallies 8.4% as Whale Buying Pushes Price Past $0.22
Dogecoin (DOGE) surged 8.4% over the past 24 hours, climbing from $0.20 to $0.22 amid two breakout phases driven by rising whale activity and institutional interest. Trading volume spiked to over 1 billion DOGE, significantly above its 378 million daily average.
The first rally occurred around 10:00, sending DOGE to $0.213. A second surge between 19:00 and 22:00 pushed it to an intraday high of $0.223. The total daily trading range hit $0.021, reflecting 9.5% volatility.
Technical indicators show resistance forming between $0.222–$0.224, while support has solidified above $0.220, suggesting a likely consolidation phase before any sustained move. RSI is nearing breakout thresholds previously linked to rallies of over 70%, while an inverse head-and-shoulders pattern near $0.21 adds bullish momentum.
Price Action Overview:
- Gain: +8.4% from $0.20 to $0.22
- Breakout phases:
- $0.20 → $0.213 (10:00)
- $0.213 → $0.223 (19:00–22:00)
- Volume: Over 1B DOGE traded
- Resistance: $0.222–$0.224
- Support: Holds above $0.220
- Current consolidation range: $0.2208–$0.2223
Analysts now eye $0.34 and $0.50 as medium-term targets, citing institutional accumulation and renewed demand for altcoins as key drivers.
