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Dogecoin (DOGE), the leading market meme coin, is showing signs of a rebound after weeks of experiencing a downtrend. The two key major rebound signals currently at play include a spike in trading volume and the emergence of a golden cross pattern.
DOGE trading volume spikes above 40%
Data from CoinMarketCap revealed that the DOGE trading volume has surged 41.53% over the past 24 hours to $1.55 billion. Within this period, Dogecoin's price increased by 7.8% to trade at $0.1279.
Higher volume validates Dogecoin’s potential to hit $0.2 in 2026. It often precedes stronger trends, as it reflects increased participation from retail traders, institutions, or even whale activity.
For a meme coin like Dogecoin, which thrives on community hype, this could amplify momentum.
In addition to the rising volume, the Dogecoin hourly chart shows the formation of a golden cross. In technical analysis, a golden cross is formed when a shorter-term simple moving average (SMA) crosses above a longer-term SMA.
The shorter SMA is usually the 50-period, while the longer one is typically the 200-period. However, the DOGE hourly chart showed the 9-period SMA crossed above the 26-period.
This is a bullish signal, indicating short-term momentum is overtaking long-term trends. It potentially marks the start of an uptrend and the ability to reach $0.2, especially with supporting volume.
Dogecoin investors bet on price rally
Another metric that has contributed to the positive momentum in the DOGE market is the open interest. Recently, open interest increased by 7% to $1.52 billion as investors committed 12.25 billion DOGE to the coin’s futures market.
The spike in open interest suggests positive anticipation of a major price rebound. Open interest generally provides insight into the demand for the meme coin. Thus, the 7% surge suggests that investors are betting on an uptick that could see the meme coin hit new levels.
Before this open interest rally, traders committed 12,140,000,000 DOGE in 24 hours despite the meme coin’s price volatility.
Overall, trading volume, golden cross and open interest combined paint a bullish picture for Dogecoin. These factors suggest a shift from bearish consolidation to upward momentum.
These updates come shortly after the Dogecoin team celebrated a major adoption milestone. The team wrote, "Dogecoin is everywhere," after reports that Buenos Aires allows residents and businesses to settle city taxes and administrative fees using DOGE.
Dan Burgin
Godfrey Benjamin
Arman Shirinyan
Caroline Amosun
Alex Dovbnya