Dogecoin Hits $0.20 as Breakout Volume Triples Average

Dogecoin (DOGE) surged 1.8% to reach $0.20, breaking the critical resistance level of $0.1988 with a trading volume that increased by 170% above average. The move is attributed to renewed institutional participation, signaled by heavy trading of 674.52 million tokens, nearly triple the daily average. Currently, analysts are monitoring whether DOGE can maintain support above $0.19, as further buying interest is likely if it can break above $0.2003. The breakout aligns with a broader market sentiment that has seen gains in larger cryptocurrencies like Bitcoin and Ethereum. This upward momentum indicates a strengthening technical foundation for DOGE as it consistently establishes higher lows since hitting the $0.19 mark. Traders believe that sustaining levels above $0.1985–$0.1990 could pave the way for further gains towards the $0.2030–$0.2050 range, while failure to hold these levels might lead to a retraction towards key support around $0.1940–$0.1950.

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