LONDON (IT BOLTWISE) – Dogecoin has broken above $0.20 as crypto markets recover slightly. Large investors have acquired over 327 million DOGE in the last 24 hours, indicating increased trading activity. These moves could be a harbinger of further price changes.
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Dogecoin recently crossed the $0.20 mark, indicating a slight recovery in the crypto markets. According to market reports, DOGE was trading at around $0.20261 and reached $0.21 after a small increase. Bitcoin held above $114,000 and Ethereum hovered above $4,200, providing broader support to the rally.
Major investors have reportedly purchased more than 327 million DOGE in the last 24 hours. This wave of large transactions coincided with trading volumes that were about 10% higher than weekly averages. This latest move signals stronger than usual activity, which has been picked up by on-chain trackers and is seen as a likely reason for the recent price move.
Technical analysts report that Dogecoin is trading within a symmetrical triangle – a pattern that usually means the price is being squeezed and could break out in either direction. The Relative Strength Index stands at 58, which suggests that the coin is neither overbought nor oversold. The MACD line is above its signal line and the histogram shows moderate bullish momentum, although analysts warn that it is not yet a strong increase.
Traders say a clear move above $0.22 would be the first sign that bulls are taking control. On the upside, some market watchers list $0.25 as the next significant barrier, and a run towards $0.26+ has been mentioned as a possible target as momentum builds. On the other hand, a break below $0.18 could open the door to further losses and bring the consolidation phase back into focus.
Reports have revealed that DOGE rose 1.35% during the session to $0.21, marking its first close above the $0.2026 resistance level since August. Still, a number of indicators suggest the move is cautious. Increases in volume and interest from whales are positive signs, but analysts are looking for confirmation from price action and higher volume on a breakout.
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