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Dogecoin (DOGE) is demonstrating resilience amidst a slightly bearish trend affecting Bitcoin and other altcoins. Currently trading at $0.1695, DOGE is down 2.11% in the last 24 hours. However, high trading volume on major centralized exchanges like Binance suggests a potential upcoming rebound.

Dogecoin Volume on Binance

Data from CoinMarketCap reveals significant volume increases for two Dogecoin trading pairs on Binance: DOGE/USDT and DOGE/FDUSD. DOGE/USDT volume surged 10.64% to $122,181,081, while DOGE/FDUSD saw a remarkable 21.57% increase, reaching $247,642,042.

Combined, these pairs traded over 2.205 billion DOGE in 24 hours, indicating strong trader interest. Earlier this week, Dogecoin experienced a 6% surge, reaching a 24-hour trading volume of $1.19 billion.

The broader cryptocurrency market sentiment is also influencing Dogecoin. The current global trade tensions are impacting Bitcoin's breakout potential, and given the strong correlation between Bitcoin and Dogecoin, this effect is clearly felt by the meme coin.

DOGE's Prospects in April

Dogecoin's weekly chart shows a 15.7% price drop, with a monthly decline of 21.59%. Despite this bearish trend, there's optimism for a potential reversal this month.

As previously reported by U.Today, Dogecoin historically performs well in April, exhibiting an average 62% increase, with many months showing growth over the past 12 years. So far this April, DOGE is up 2.22% according to Cryptorank data, attempting to recover from March's 14% slump. Read the original article on U.Today