Dogecoin surged 6.56% over the past 24 hours, bouncing from a two-month low of $0.1508 to a session high of $0.1632, as traders stepped in aggressively following a technical breakout.
The move came amid heightened geopolitical tensions between the U.S. and Iran, which triggered broad volatility across crypto markets but failed to derail DOGE’s momentum.
The meme coin broke through a long-standing descending trendline, confirming a shift in short-term market structure. Hourly RSI readings recovered from oversold territory, while netflows turned neutral, suggesting that sell-side exhaustion may have run its course.
News Background
- Global markets have been rattled by renewed military activity in the Middle East, with U.S. airstrikes in Iran over the weekend raising risk-off sentiment.
- Despite the wider crypto selloff, Dogecoin showed relative strength, recovering faster than Bitcoin or Ethereum and pushing past key resistance levels.
- Technical analysts note that the rally was driven by a sharp increase in trading activity, particularly during the 22:00 UTC hour, when volume surged past 800 million units and price spiked 3.77% in under 60 minutes.
- The breakout has sparked renewed discussion about a potential retest of the $0.17–$0.18 range if volume remains elevated and global risk sentiment stabilizes.
- Dogecoin’s network fundamentals also remain intact, with transaction volume and active wallet counts trending higher over the past week.
- While macro conditions remain fragile, the memecoin’s resilience is capturing renewed attention from traders betting on short-term altcoin rotation.
Price Action
Dogecoin traded in a broad range from $0.1508 to $0.1632 over the session, ultimately settling around $0.1615. The $0.150 zone acted as a springboard after the asset reached a local bottom following weeks of declining momentum. A clean break above $0.162 resistance has now established a short-term higher high, with $0.165 emerging as the next level to watch.
The final hour of the session saw minor consolidation, with DOGE pulling back slightly from intraday highs and forming a potential bull flag above $0.161.
Technical Analysis Recap
• DOGE posted a 6.56% gain, rising from $0.153 to $0.1632 over 24 hours
• Price broke above a descending trendline, confirming bullish breakout
• Key support formed at $0.150 after a two-month low, with volume over 800M during rebound
• $0.165 now acts as short-term resistance; $0.162 holding as support
• RSI has exited oversold conditions; MACD signals a potential continuation
• Final-hour pullback remains shallow, indicating healthy consolidation
Read the full article here
