Dogecoin Jumps 5% as V-Shaped Recovery Shows Rising Demand

Dogecoin [{{DOGE}}] experienced a notable 4.8% increase over the past 24 hours, rising from $0.18 to $0.19. This upward movement reflects renewed bullish momentum and a significant surge in trading volume.

The rally, characterized by a V-shaped recovery from key support levels, underscores Dogecoin's resilience and its continued appeal to both retail and institutional investors.

News Background

This recent surge in Dogecoin's value coincides with a resurgence of interest in meme coins and growing speculation surrounding the potential launch of a Dogecoin ETF. Data from Polymarket indicates that traders are currently estimating a 51% probability of SEC approval for a Dogecoin ETF in 2025, a development that could attract substantial institutional investment.

Furthermore, Dogecoin's integration with the Coinbase-backed Base network has expanded its utility within the DeFi ecosystem, simplifying user engagement with the token across various platforms.

Amidst ongoing geopolitical tensions and evolving trade policies impacting traditional markets, Dogecoin's role as a speculative asset – and a potential hedge – remains a focal point.

Institutional whale activity, coupled with sustained interest from high-volume traders, suggests that the token could maintain its strong performance even amidst broader market uncertainty.

Price Action

A dramatic price surge characterized Dogecoin's rally, particularly between 11:00 and 13:00 UTC, when trading volume spiked to 541 million and 589 million units, respectively – more than double the average.

This surge established a strong high-volume resistance zone at $0.198-$0.199. Dogecoin's price rebounded decisively from the $0.194 support level, forming a V-shaped recovery pattern driven by renewed buyer interest.

Technical Analysis Recap

• Dogecoin climbed from $0.189 to $0.199, marking a 4.8% gain.
• Significant volatility was observed between 11:00 and 13:00 UTC, with trading volumes reaching 541 million and 589 million units.
• Resistance was established at $0.198-$0.199, with support at $0.189.
• A V-shaped recovery pattern formed in the final hour, accompanied by substantial buying interest at $0.194.
• Volume spikes at 01:56 UTC to 7.2 million and during the final 10 minutes confirmed strong buyer interest.
• Price established new resistance at $0.196, suggesting a potential continuation of the uptrend.

Disclaimer: Portions of this article were generated with the assistance of AI tools and reviewed by CoinDesk’s editorial team for accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.