Dogecoin Jumps After Rollercoaster Weekend Price-Action

Dogecoin demonstrated resilience with a notable recovery after a significant sell-off over the weekend. The token briefly dipped to $0.143 before rebounding to above $0.153. This upward move was accompanied by a surge in trading volume, exceeding five times the daily average, indicating strong buyer interest at crucial support levels. This suggests a potential shift in momentum, particularly as broader markets experience ongoing turbulence.

News Background

Persistent global macroeconomic uncertainty continues to impact digital assets. Geopolitical tensions and trade disputes between major global economies have amplified volatility across various risk markets. Furthermore, concerns surrounding inflation and ongoing scrutiny of the Federal Reserve's monetary policy have contributed to a cautious outlook within the cryptocurrency market.

DOGE's recent rebound occurred amidst a period of intense selling pressure. However, the robust volume-backed support observed at $0.145 appears to have initiated a trend reversal. Despite being considered a high-beta asset, Dogecoin's recovery from its recent lows highlights a resilient market structure, especially considering the widespread weakness observed across other altcoins.

Technical analysts are carefully monitoring whether DOGE can maintain its upward trajectory above $0.153 and successfully breach short-term resistance levels as bullish volume continues to accelerate.

Price Action

DOGE experienced a volatile 9.1% range within the 24-hour period, initially declining from $0.157 to $0.143 before recovering to close near $0.153. The most significant selling activity occurred during hours 13-14, characterized by a volume spike exceeding five times the average, firmly establishing a support level at $0.145.

In the final hour of trading, Dogecoin experienced a surge from $0.152 to $0.153, with a notable breakout above $0.153432 occurring after 04:58. Volume surged again at 05:11 (10.7M), further confirming buyer strength and propelling DOGE to a new local high.

Technical Analysis Recap

• DOGE experienced a 9.1% swing, dropping from $0.157 to $0.143 before rebounding to $0.153.
• Volume during the 13-14 hour spike exceeded 5x the daily average, confirming support at $0.145.
• An uptrend has formed with clear higher lows from $0.145 to $0.152.
• A breakout above the $0.153 resistance occurred after 04:58, pushing the price to $0.153432.
• The volume surge at 05:11 (10.7M) confirmed the strength of the breakout.
• The final hour demonstrated sustained bullish momentum and strong consolidation above $0.152.
• Price action is now targeting the $0.155–$0.158 zone, with $0.145 holding as key support.