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Dogecoin Flashes Bullish Continuation After Bounce at 16-Cents on Six Times Higher Volume

2025-07-09 04:58:41

Dogecoin Flashes Bullish Continuation After Bounce at 16-Cents on Six Times Higher Volume

Main Idea

Dogecoin shows bullish momentum after breaking key resistance levels, with significant price movements and high trading volume, while institutional accumulation and external factors like political events and Elon Musk's initiatives add to its visibility.

Key Points

1. Dogecoin surged 5% in 24 hours, from $0.163 to $0.171, with a notable spike to $0.173 on high trading volume (1.14 billion, 6x daily average).

2. Strong support formed at $0.166, with analysts monitoring resistance levels at $0.173-$0.175; a break above could target $0.180 and $0.21.

3. Whales holding 1M–100M DOGE have been accumulating since June 28, signaling institutional interest.

4. External factors influencing DOGE include President Trump’s tariff deadline and Elon Musk’s launch of The American Party, speculated to integrate DOGE for payments on X.

5. Volume spikes (12.8M and 8.0M) and breakout confirmations suggest continued bullish momentum, with critical support at $0.166.

Description

Dogecoin surged 5% in the last 24 hours, climbing from $0.163 to $0.171 amid rising institutional accumulation and a technical breakout above key resistance. The most aggressive price action came between 12:00 and 13:00 UTC on July 6, when DOGE jumped from $0.166 to $0.173 on massive volume exceeding 1.14 billion — nearly 6x its daily average. Strong volume-based support formed at $0.166, with consolidation now occurring between $0.170 and $0.173. Analysts are watching the $0.173-$0.175 zone as ...

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$DOGE
$0.17155
+1.16%

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