- Dogecoin trading volume jumped 30% in 24 hours to $3.5 billion, fueling bullish sentiment.
- DOGE price rose 9.4% daily, 22.4% weekly, and 18.9% monthly, overtaking Tron in market cap rankings.
- Analysts identify $0.36 as the key breakout level for a potential run toward $0.70.
- Meme coins like Shiba Inu and Pepe also rallied, alongside Bitcoin and Ethereum gains.
Dogecoin Trading Volume Surges Amid Crypto Market Rebound
Dogecoin (DOGE) has joined the broader cryptocurrency market rally, registering a sharp increase in trading activity. According to CoinMarketCap data, DOGE trading volume surged by 30.45% in the last 24 hours, reaching $3.5 billion. This jump in trading volume signals a surge in investor confidence and growing interest in the world’s leading meme cryptocurrency.
Over the same period, DOGE’s price climbed 9.4% to $0.2456, contributing to impressive weekly (22.4%) and monthly (18.9%) gains. This momentum propelled Dogecoin to the eighth spot in the crypto rankings, surpassing Tron (TRX) with a market capitalization of $37.18 billion.
Also Read: Dogecoin Trading Volume Hits $1B as Bulls Eye Major Breakout
Meme Coins Ride the Bullish Wave
Dogecoin’s rally is part of a wider market rebound. Bitcoin (BTC) reclaimed the $119,000 level after dipping to $118,000 earlier in the week, while Ethereum (ETH) advanced to $4,630. Meme coins like Shiba Inu (SHIB) and Pepe (PEPE) followed suit, posting daily gains of 6.7% and 9.3%, respectively.
This synchronized growth reflects renewed investor optimism in risk-on crypto assets, especially within the meme coin sector.
Analysts Predict a Dogecoin Breakout
Despite some recent price fluctuations, analysts are eyeing a potential explosive breakout for DOGE.
Crypto analyst Ali Martinez has pinpointed $0.36 as the critical resistance level. A decisive close above this threshold could pave the way for a surge toward $0.70.
Similarly, market analyst Kaleo expressed bullish sentiment, suggesting it might take less than a day for DOGE to reclaim recent highs once momentum builds.
Outlook for Dogecoin
With trading volume spiking and market momentum on its side, Dogecoin is well-positioned for further gains—provided it can overcome the $0.36 barrier. If this breakout occurs, the $0.70 target becomes increasingly plausible, making DOGE a focal point for traders in the coming weeks.