Dogecoin rose 5.2% to $0.1811 on Tuesday as institutional buying accelerated through the key $0.1800 resistance level.
The move came amid stronger risk sentiment following weekend comments by US President Donald Trump calling no-tariff supporters “fools” and promising to use tariff revenue to fund $2,000 dividends for Americans, comments that spurred a rotation into speculative assets and risk-on trading.
News background
- The DOGE breakout coincided with an uptick in sentiment for meme coins on major exchanges. The sector attracted renewed attention as traders repositioned into higher beta tokens following a four-day consolidation.
- Volume increased to 649.5 million, a 180% increase above the 24-hour average, confirming institutional accumulation during the move. The rally decisively pushed DOGE through the $0.1800 resistance, a level that had limited bullish momentum since early October.
- The macro context added more intrigue. Trump’s populist comments reignited expectations for looser fiscal conditions and greater domestic liquidity, themes historically correlated with speculative risk appetite in digital assets.
- Traders cited parallel inflows into the DOGE and SHIB markets, indicating a coordinated rotation toward meme-linked assets.
Price Action Summary
- DOGE advanced from $0.1722 to $0.1811, trading within a range of $0.009 that marked its strongest intraday expansion in more than a week. Buyers repeatedly defended the $0.1742 level before initiating a rise to $0.1800.
- The breakout materialized during the New York morning session as volume increased sharply, confirming institutional execution in key trading pairs.
- The price reached a high of $0.1826 before encountering short-term resistance. A small pullback to $0.1804 followed, forming the first retest of the breakout zone.
- Hourly charts revealed strong volume accumulation at mid levels, suggesting that structural support has moved up.
Technical analysis
- The break above $0.1800 validates a short-term bullish reversal pattern after a multi-session base building phase. Momentum indicators remain constructive, with the RSI trending up near 61 and the MACD crossing into positive territory.
- Volume analysis shows accumulation patterns that dominated the early hours of the session, while late-hour spikes up to a turnover of 24 million hours (≈300% above average) reflected profit taking rather than structural weakness.
- The chart structure confirms higher lows at $0.1745, $0.1761 and $0.1782, the defining hallmark of an emerging ascending channel. DOGE is now trading firmly above its 20 and 50 hour moving averages, underscoring the strength of the near-term momentum.
What traders should know
- DOGE’s ability to hold above the support zone between $0.1800 and $0.1804 will determine whether the breakout evolves into a sustained uptrend.
- A confirmed daily close above the $0.1838 resistance could open higher towards $0.1860-$0.1900.
- Failure to hold current levels risks a pullback towards $0.1740-$0.1750, although institutional accumulation suggests dips may continue to attract buyers.
- Analysts highlight the meme coin sector as an emerging speculative proxy amid macroeconomic uncertainty. Trump’s renewed fiscal rhetoric adds another potential volatility driver, one that could amplify flows into high-beta digital assets if political optimism holds through mid-November.
