Dogecoin (DOGE), the king of meme coins, rebounded from a low of $0.09335 to surge past the $0.10 resistance level. The meme coin soared to an intraday peak of $0.1057 as both price and volume flipped green once more after days of market uncertainty.
Volume surge pushes Dogecoin past $0.10 resistance
As per CoinMarketCap data, Dogecoin jumped by over 7%, outperforming Bitcoin (BTC), to which it maintains a correlation. Notably, Bitcoin also recorded gains, but the leading cryptocurrency only managed a 4.35% uptick within the same period.
Dogecoin’s upsurge is largely driven by capital rotation into the meme coin sector as investors embarked on a buyback of assets previously dumped. This short squeeze triggered an uptick in value for DOGE.
If investors double down on their interest, this might sustain the upward rally for Dogecoin. However, the meme coin needs to hold above the $0.095 support and maintain stability over the $0.1023 retracement level for the current gain to make an impact.
If DOGE suffers a rejection, it could slip further down due to exhaustion for market participants. As of this writing, Dogecoin exchanges hands at $0.09981, which represents an 8.93% increase in the last 24 hours. The meme coin has slightly shed some of its previous gains amid ongoing volatility.
Trading volume maintained its astronomical rise, up by 115.17% to $1.81 billion within the same time frame. The massive uptick signals increased activity on the part of investors and traders alike as they bet on a continued rally. The confidence might be a result of a corresponding rise in the price of Bitcoin.
It is worth mentioning that, beyond Dogecoin, other meme coins like BONK and SHIB all recorded gains within the last 24 hours. This indicates that the meme coin sector is benefiting from renewed risk appetite.
You Might Also Like
Can DOGE sustain its current rally?
Dogecoin continues to show potential for higher price levels, given on-chain and technical signals.
Recently, DOGE flashed signs of approaching its first golden cross against Bitcoin since the start of 2026. The indication meant that Dogecoin has been on a rise and could deliver better short-term returns for investors than Bitcoin.
With Dogecoin once more flipping $0.10, market observers anticipate the meme coin could keep off bears as selling pressure eases. Investors had engaged in a massive sell-off as DOGE dipped below this resistance level within the last 10 days.
How the price reacts to the current volume spike will largely be determined by sustained market interest.