- Dogecoin’s 51% surge in trading volume signals strong buying interest, indicating potential price momentum.
- Despite geopolitical concerns, DOGE shows resilience with recent support levels holding amid volatile market conditions.
Dogecoin saw sharp weekend activity as it dropped to $0.143 before bouncing back above $0.153. The selloff coincided with broader market losses sparked by geopolitical worries and lingering economic fears, including rising inflation and global trade tensions.
A 5% drop below the $0.16 level shook investor confidence, leading to a notable liquidation phase. However, this sharp correction also attracted renewed buying interest as prices began recovering quickly, with support levels proving resilient during heightened volatility.
At the time of the report, trading volume climbed by 51% in 24 hours, reaching $1.71 billion. This rise in volume, especially concentrated during hours 13 and 14 of the trading session, confirmed strong buying pressure. It helped Dogecoin establish a new base at $0.145 after facing its sharpest decline.
Dogecoin’s Fluctuations—Liquidations and Rising Interest
Dogecoin’s price range fluctuated by 8.1% during the day, with a low of $0.143 and a high of $0.154. Market behavior highlighted intense selling activity midway through the session before volume-driven support reversed the trend. This action provided signs of possible short-term momentum, particularly as price patterns formed a series of higher lows from $0.145 to $0.152.
Meanwhile, Coinglass data shows that liquidations totaled $10.4 million across 24 hours. Of that figure, long positions lost $7.55 million while short positions saw $2.85 million in losses. These numbers reveal heavy risk exposure across both sides of the market, driven by swift price moves and unstable sentiment.
Open interest also rose by 5.43%, now standing at $1.75 billion. This increase indicates wider market involvement and may signal upcoming fluctuations as more traders engage in speculative activity involving DOGE.
Analysts Eye Deeper Pullback Before Stronger Upside
Despite the ongoing rebound, not all sentiment has turned positive. A TradingView analyst warned that Dogecoin might still fall by more than 10%, targeting a price near $0.13. The reasoning points to a convergence of weekly and range supports around that level, which could offer a strong accumulation point for new buyers.
DOGE’s funding rate stayed largely balanced, sitting at -0.0021% over the last 8 hours. The long/short positioning also leaned slightly bearish, with 48.46% long and 51.54% short. This neutral bias in funding combined with cautious positioning may lead to short-term sideways moves as traders assess macro signals.
If prices reach the $0.13 zone and hold, the analyst suggests an eventual price increase to $0.25. That would represent a gain of over 90%, potentially by Q3 this year, assuming stability builds from that confluence level.
Short-term targets remain at $0.155 to $0.158, as the market assesses whether Dogecoin can sustain upward pressure. Analysts are watching the $0.153 level closely to determine if bullish strength can continue, especially given the strong volume that supported the recent bounce.
