Dogecoin has surged past the critical $0.25 resistance level, recording impressive gains fueled by whale accumulation, growing ETF speculation, and favorable market conditions. The cryptocurrency posted a 7.83% price increase within 24 hours, supported by a sharp 77.28% jump in trading volume to $6.43 billion.
Significant whale activity underpinned the rally, with large wallets accumulating over 1.08 billion DOGE valued at approximately $250 million within a two-day period.
ETF approval speculation gained substantial momentum, with market analysts citing an 80% probability of regulatory clearance following successful launches of Ethereum and XRP exchange-traded funds.
Broader cryptocurrency dynamics played a crucial role, evidenced by Bitcoin’s declining market dominance dropping from 66% to 61.75%, creating favorable conditions for altcoin investments.
Technical indicators suggest potential price targets between $0.33 and $0.476 should Dogecoin maintain its position above the newly established $0.25 support zone.