CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

CoinDesk 2025-06-03 07:39:47

Dogecoin Surges 6% as Institutional Buyers Fuel Bullish Rally

Dogecoin (DOGE) surged nearly 6% over the past 24 hours, marking a sharp reversal from its recent sluggish performance as institutional interest appears to be driving renewed optimism. Price-Action According to CoinDesk Research's technical analysis model, the token rose from $0.191 to $0.200, fueled by strong technical momentum and high-volume trading that saw peak volume hit 470 million units during the 01:00 hour. The rally comes at a time of heightened global economic uncertainty, with geopolitical tensions weighing on risk assets across the board. Despite this backdrop, Dogecoin’s price action has defied broader market trends, breaking through key resistance at $0.193 and forming a new support level at $0.200 after brief consolidation. Technical analysis highlights DOGE’s strong uptrend, with higher lows and higher highs forming throughout the period. The most aggressive buying occurred during the final four hours of the session, with volume spikes at 01:43 (32.9M units) and 01:46 (37.3M units) underscoring significant institutional accumulation. A notable $20 million DOGE transfer to Coinbase coincided with the launch of the SHIB DAO, sparking renewed interest in the meme coin sector and potentially contributing to the surge. Technical Analysis Recap DOGE climbed from $0.191 to $0.200, a 5.75% gain over 24 hours. Price action formed a clear uptrend with higher lows and higher highs, particularly after 22:00. Strong volume support emerged at $0.190, while resistance at $0.193 was broken with conviction. Peak volume of 470M occurred at 01:00, marking the most aggressive buying session. Final hour saw DOGE climb from $0.197 to $0.200, with notable volume spikes at 01:43 (32.9M) and 01:46 (37.3M). Price broke the $0.200 psychological barrier at 01:50, establishing a new support level. DOGE closed the session with decreased volatility but maintained levels above $0.200. As DOGE heads into the next trading session, traders will be watching closely to see if the meme coin can sustain its momentum amid broader market volatility.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.