Dogecoin(DOGE) jumped 10% as daily volume rose 3.5x, joining a broader rebound among older memecoins, though weak ETF flows and resistance near $0.08 left the breakout unconfirmed. Key Points
Dogecoin(DOGE) jumped 10% as daily volume rose 3.5x, joining a broader rebound among older memecoins, though weak ETF flows and resistance near $0.08 left the breakout unconfirmed.
Pepe led the group with a 19% gain, while Dogecoin and Shiba Inu each rose about 10%. The moves lifted the memecoin sector's market capitalization by more than 5.37%, while total trading volume climbed 189% to roughly $4.14 billion. Dogecoin was one of the busiest names.
Token Terminal data cited by the report showed Dogecoin's daily trading volume rising 3.5x to about $1.28 billion, more than half the amount traded over the previous week. AMBCrypto also linked stronger risk appetite partly to the U.S. Treasury's decision to double long-dated bond buybacks, which coincided with a broader rebound in risk assets.
Dogecoin recently gained access to the Paxos network used by PayPal and Venmo, a development the report said could widen its exposure to established payment infrastructure. Spot Dogecoin ETFs, however, recorded no new inflows after a $564,000 net outflow on Aug. 13, leaving institutional participation limited during the rally.
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On the charts, Dogecoin broke a major trendline that had held since May and cleared a four-hour resistance trendline. A bullish moving-average cross also appeared, while cumulative volume delta showed more than 132 million DOGE bought during a single four-hour session, and funding rates had stayed positive since Aug. 5, showing longs were paying a premium.
Lennox Gitonga's technical reading puts the next important test around $0.08, where Dogecoin still faces a significant supply zone despite trading above $0.0750.
A sustained break above that area would offer stronger evidence of a market-structure shift than the initial 10% price jump. The breakout is not confirmed yet.
The current setup follows months of weaker price structure, with the main trendline capping Dogecoin since May before buyers finally pushed through it this week. Funding rates only turned consistently positive in early August, while spot ETF flows remained quiet after the Aug. 13 outflow, leaving the rally dependent on follow-through rather than one strong session.
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