Dogecoin (DOGE) has exceeded $1 billion in 24-hour trading volume, with data from CoinMarketCap showing a 46% increase to $1.05 billion.
Despite this surge in volume, DOGE’s price rose modestly by 1.68% over the same period, trading at $0.1782, indicating potential renewed buying interest.
After a five-day decline from a June 11 high of $0.206, Dogecoin found support around $0.17 on June 13 and showed a slight rebound during Monday’s session.
Crypto analyst Ali noted on Twitter that Dogecoin is poised for a rebound, citing multiple buy signals on the 12-hour TD Sequential indicator. Ali also emphasized the importance of maintaining support above $0.168 to avoid a possible 30% price drop.
Analysts are focusing on the $0.20 to $0.25 resistance range, aligned with the daily 50 and 200 simple moving averages, which has recently capped gains. A decisive break above this zone could trigger bullish momentum, potentially pushing DOGE toward $0.43 to $0.49.
On the downside, dropping below $0.17 could lead to short-term selling pressure, with the next support at $0.16. If that level fails, DOGE might decline further to $0.14, where buying interest is expected to increase.
The next significant move will likely depend on a breakout above $0.26 or a drop below $0.14. Breaking below $0.14 may push Dogecoin down to $0.10, while surpassing $0.26 could drive the price up to $0.38.