DOGE Surges 1023% on Major Exchange as Whales Step In: What’s Next?

Key Points

1. Dogecoin's trading volume surged by 1,023% on OKX within an hour, coinciding with a price rebound to an intraday high of $0.204.

2. The price recovered from a low of $0.188 after six days of decline, with resistance now seen at the $0.21 level.

3. DOGE remains in consolidation between its 50-day SMA ($0.195) and 200-day SMA ($0.2099), with sellers defending the $0.204 level.

4. The daily RSI improved to 44 but still indicates bearish pressure, suggesting continued consolidation in the near term.

5. A break below the 50-day SMA at $0.19 could lead to a drop toward $0.14, while a break above $0.21 may target the $0.248-$0.287 range.