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Dogecoin (DOGE), the largest meme coin by market capitalization, looks ready for a bullish price rebound, as indicated by the recent surge in trading volume. Over the past 24 hours, the DOGE trading volume spiked more than 43%.
DOGE traders resume activity
According to CoinMarketCap data, the DOGE trading volume jumped 43.5% to $3.1 billion. The jump in DOGE trading volume signals heightened interest from buyers and sellers.
This is bullish for DOGE as high volume acts like fuel for price moves. In crypto, a big volume jump suggests real conviction, maybe retail hype, whale accumulation or news catalysts.
For Dogecoin, which thrives on social media virality, this could precede a price rally. As of mid-2025, the DOGE daily volume hovered between $1-$2 billion.
However, the Dogecoin price staged a mild rebound on Oct. 27 after daily trading volume jumped 62% to over $2 billion.
At the time, DOGE found key support around $0.20. Consequently, analysts forecasted 60% potential gains, possibly targeting $0.32.
Their prediction aligned with expectations of a positive October close. Historically, DOGE has traded in the green for four consecutive years, beginning in October 2021.
Dogecoin eyes $0.016 as short-term target
Currently, the DOGE price trades at $0.1573, down 2.72% over the past 24 hours. DOGE climbed back to $0.1572 after testing the $0.152-0.154 demand zone. Buyers quickly stepped in, preventing a further decline and shifting momentum on the short-term charts.
The short-term momentum is improving, especially amid surging trading volume. Dogecoin bulls could attempt another push toward $0.160 as long as DOGE holds above $0.156.
However, failure to stay above $0.155 puts DOGE at risk of retesting lows between $0.152 and $0.153.
Intriguingly, Dogecoin recently experienced an increase in futures activity. Notably, Dogecoin futures traders have committed 2.16 billion DOGE to its derivatives market, signaling renewed interest across the ecosystem.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team