Dogecoin (DOGE) Price News: Breaks Multi-Month Range as $0.21 Becomes Support
Dogecoin (DOGE) advanced 1.4% to $0.21, breaking through the $0.2026 resistance level for the first time since August. This price movement demonstrates the coin's relative strength compared to the broader market, outperforming the CD5 index by over 2%. Trading volumes surged nearly 10% above the seven-day average, indicating strong institutional interest and early accumulation. Analysts suggest that DOGE's performance signals a shift toward higher-beta assets amidst market consolidation. Key breakout volume reached approximately 834.5 million tokens, significantly surpassing the 24-hour moving average. Successfully holding the $0.2060-$0.2070 support could lead to a further increase towards the $0.2130 level. Conversely, failing to maintain this support may result in a pullback to $0.1990. The overall technical position remains positive, with a bullish outlook as DOGE transitions out of its multi-month consolidation range supported by institutional flows, despite muted retail participation.
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