Dogecoin Breaks Key Resistance, Surges Nearly 6% on Rising Institutional Interest
Dogecoin (DOGE) has rallied sharply in the past 24 hours, climbing almost 6% as it breaks through critical resistance levels amid a surge in trading volume and signs of institutional accumulation.
The meme coin’s price jumped from $0.191 to $0.200, driven by strong technical momentum and heightened trading activity. According to CoinDesk Research’s technical model, trading volume peaked at 470 million DOGE during the early morning hour of 01:00, highlighting robust demand.
This upward move comes despite ongoing global economic uncertainties and geopolitical tensions that have been weighing heavily on risk assets across markets. Defying the broader market weakness, DOGE pushed past resistance at $0.193 and quickly established a new support level at $0.200 after a brief consolidation phase.
Technical indicators reveal a clear bullish trend for Dogecoin, characterized by a series of higher lows and higher highs throughout the session. The most intense buying occurred in the final four hours, with volume spikes of 32.9 million and 37.3 million tokens at 01:43 and 01:46, respectively—signals consistent with institutional-scale accumulation.
Adding to the excitement, a significant $20 million DOGE transfer to Coinbase coincided with the launch of the SHIB DAO, a move that helped reignite interest in the broader meme coin space and likely contributed to Dogecoin’s recent surge.
Technical Snapshot
- DOGE rose from $0.191 to $0.200, up 5.75% in 24 hours
- Price action showed a strong uptrend with consistent higher lows and higher highs after 22:00
- Resistance at $0.193 was decisively broken, with strong volume support around $0.190
- Peak trading volume of 470 million tokens occurred at 01:00, marking the most aggressive buying period
- Late-session volume spikes at 01:43 (32.9M) and 01:46 (37.3M) signaled heavy institutional buying
- Price broke through the psychological $0.200 barrier at 01:50, forming a new support level
- DOGE closed the session with reduced volatility but sustained levels above $0.200
As Dogecoin moves into the next trading period, market participants will be closely monitoring whether the token can maintain its bullish momentum amid broader market volatility.
