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In the last 24 hours, Dogecoin (DOGE) showed strength as its price climbed by over 5%, suggesting the meme coin might have ended its sell-off phase. The price of Dogecoin has now likely bottomed out as the meme coin showed signs of recovery toward the $0.20 price level.
DOGE's trading volume surges 72% as investor sentiment improves
According to CoinMarketCap data, DOGE climbed from a low of $0.181 and peaked at $0.1959 in earlier trading. As of press time, DOGE was changing hands at $0.1909, representing a 5.12% increase in the last 24 hours.
The Dogecoin ecosystem is also bullish. Investors actively engage in the market, pushing trading volume up by a massive 72.50% to $1.29 billion.
DOGE looks like it might stabilize above $0.19 for a possible breakout, which could see the price rise to the $0.24 zone if it sustains the current momentum. If broader cryptocurrency market conditions remain bullish, DOGE could soar past this level.
Notably, Bitcoin (BTC), the leading digital currency, has also recorded a price spike during this period, aiming to retest the $110,000 level. If BTC maintains this momentum, it could positively impact DOGE and support its rebound journey.
Dogecoin technical indicators tease bullish
According to a U.Today report, the current price rebound was teased by Dogecoin’s Bollinger Bands, which started to ease off over the weekend. The meme coin eased into an oversold region, resulting in the current market recovery for DOGE.
A striking aspect of the current recovery is that volume has also spiked considerably. This suggests investor confidence, a major shift from June 7, 2025, when volume registered a staggering 48% decline.
Some market participants believe the volatility witnessed last week with Dogecoin might have been triggered by the social media tension between Elon Musk and the U.S. president. However, with the rhetoric fading, Dogecoin is on a steady path to $0.20.
Vladislav Sopov
U.Today Editorial Team