Dogecoin surged 4.36% to $0.1516, driven by increased speculative interest in meme coins as the broader crypto market remains stable. The rally, which saw Dogecoin break out of a consolidation range, was supported by trading volumes 40.10% above the 30-day average, indicating strong market participation.
The memecoin rally also saw significant gains for other tokens, with Pepe rising 17%, Shiba Inu up 8%, Bonk increasing nearly 11%, and Floki climbing close to 10%. CoinGecko's GMCI Meme Index reported a market value of $33.8 billion and $5.9 billion in 24-hour trading volume, highlighting widespread interest across the meme coin sector.
A short-term "golden cross" was observed in Dogecoin's hourly chart, suggesting potential for further gains if the token can maintain support above $0.1463. The next resistance is identified between $0.1520 and $0.1530, where momentum trades may face challenges.
Dogecoin Rises 4% Amid Memecoin Rally, Hits $0.1516
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