Dogecoin broke through resistance to massive inflows, surging 11% in 24 hours to challenge the $0.22 threshold. Institutional desks led the breakout, raising volume to four times their daily average as momentum indicators turned decisively bullish. Traders are now eyeing confirmation above $0.22 to extend gains towards $0.24-0.25.
News background
DOGE’s 11% rally ran from October 12 at 05:00 to October 13 at 04:00, rising from $0.19 to $0.21 after reaching a high of $0.22. The move coincided with an increase in institutional activity and a broader rally in meme coins. Analysts cited rising open interest and strong on-chain accumulation as signs that professional flows are re-entering the market.
Price Action Summary
- DOGE traded in a band of $0.02, up 11% from its session low.
- The breakout momentum occurred during the 13:00 to 16:00 period, when volumes increased to 2.54 billion, 4 times the daily average of 685 billion.
- Support was set at $0.19 after repeated defenses; Resistance formed at $0.22.
- Late session consolidation above $0.21 maintained the gains, indicating sustained momentum.
- A final breakout above $0.22 on volume of 18.6 million confirmed continued institutional accumulation.
Technical analysis
The $0.19 support remains the key structural floor. Resistance remains firm at $0.22 where multiple attempts are testing the supply. The pattern shows an ascending trend line with constructive momentum; MACD and RSI signals remain bullish. Sustained closes above $0.22 would target between $0.24 and $0.25, while declines below $0.20 could trigger short-term reversals.
What are traders watching?
- If DOGE can confirm the breakout with a daily close above $0.22.
- Institutional monitoring as volumes remain elevated through weekend trading.
- Continuation of the momentum towards the resistance band of $0.24 to $0.25.
- Broader meme coin rotation flows and ETF talk supporting sentiment.
