Dogecoin 11,558% Volume Surge on Coinbase: What’s Behind?

Key Points

1. Dogecoin's trading volume on Coinbase’s DOGE/USD pair surged 11,558% to $17.63 million in 24 hours.

2. The spike is isolated to Coinbase, suggesting exchange-specific factors like U.S. customer demand may be influencing the surge.

3. Dogecoin's total 24-hour trading volume across all platforms was $822 million, with a slight price decline of 1.56% to $0.1653.

4. The daily chart shows a double bottom pattern, a potential reversal signal, with support around $0.15.

5. Earlier in the week, Dogecoin climbed to $0.175 before pulling back to $0.161, with risks of falling below $0.14 if declines continue.