Crypto: Dogecoin Skyrockets With +75% Volume

Dogecoin is undeniably one of this week’s most surprising crypto assets. Its price recently climbed to $0.27, with a trading volume up 75% compared to the average. A movement that could herald a new momentum! More details in the paragraphs below!

Dogecoin attracts crypto traders with exploding volume

July 22nd saw a surge in activity on Dogecoin. The trading volume of this crypto asset indeed reached over $720 million, compared to a usual average of $408 million. This spike indicates a return of trader interest despite a tense macroeconomic context.

That’s not all! The DOGE price is currently moving within a tight range from $0.26 to $0.27. However, retracement signals on high-volume candles are drawing attention.

The psychological threshold of $0.27 thus acts as a strong resistance. Despite breakout attempts, selling pressure dominated at the end of the session, pulling Dogecoin’s price back toward $0.26.

Note that at 05:06 GMT, a one-minute candle registered a peak of $10.47 million in trading. Hence, the sudden $0.01 drop, a sign of strong algorithmic activity or tactical profit-taking.

The memecoin DOGE defends its support, are the signals bullish?

Several rebounds at the $0.26 level indicate a well-defended technical support zone. The analysis indeed shows a discreet but real accumulation. Crypto traders are therefore betting on a short-term recovery.

• The RSI indicator remains neutral.
• The MACD shows stagnation.

This signals a waiting phase before potentially a bullish breakout.

Another point: institutional investors observe Dogecoin as a speculative “high beta” bet, meaning it is very sensitive to overall market movements. To confirm a true reversal, crypto analysts will need to monitor:

• volume above $750 million;
• a clean close above $0.27.

Conversely, a drop below $0.256 could trigger stop orders and bring the price down to around $0.24.

In an unstable context, Dogecoin certainly demonstrates an astonishing defensive capability. Its behavior catches the eyes of crypto traders, with technical signals to watch closely for the rest of the cycle.