Dogecoin rose 5.2% to $0.1811 on Tuesday as institutional buying pushed it above the key resistance level at $0.1800.
The move comes as risk sentiment strengthens following former US President Donald Trump’s comments over the weekend in which he called non-tariff supporters “idiots” while pledging to use tariff revenue to fund $2,000 dividends to Americans, prompting a rotation into speculative assets and risk trading.
news background
- DOGE’s breakout coincided with a recovery in meme coin sentiment across major exchanges. The sector received renewed attention as traders repositioned into high-beta tokens after four days of price action.
- Transaction volume surged to 649.5 million, an increase of 180% above the 24-hour average, confirming institutional accumulation during the move. This rally decisively pushed DOGE above the $0.1800 resistance, a level that had capped its upside momentum since early October.
- The macro context is even more interesting. President Trump’s populist rhetoric has reignited hopes for easing fiscal conditions and improving domestic liquidity. These themes have historically correlated with speculative risk appetite in digital assets.
- Traders noted parallel inflows into the DOGE and SHIB markets, indicating a coordinated rotation into meme-related assets.
Overview of price fluctuations
- DOGE rose from $0.1722 to $0.1811, trading within the $0.009 range, marking its strongest intraday expansion in a week. Buyers repeatedly defended the $0.1742 level before starting a rally to $0.1800.
- The breakout materialized during the New York morning session as volume soared and institutional fills were confirmed across major trading pairs.
- The price peaked at $0.1826 before encountering short-term resistance. Thereafter, it declined slightly to $0.1804, forming the first retest of the breakout zone.
- The hourly chart reveals strong accumulation at moderate levels, suggesting that structural support has shifted higher.
technical analysis
- A breakout above $0.1800 confirms a short-term bullish reversal pattern following a multi-session base building phase. Momentum indicators remain positive, with the RSI trending upwards around 61 and the MACD moving into positive territory.
- Volume analysis showed that while an accumulation pattern dominated early trading, the late-night surge to 24 million hourly sales (about 300% above average) reflected profit-taking rather than structural weakness.
- The chart structure confirms lows of $0.1745, $0.1761, and $0.1782. This is a defining feature of an emerging ascending channel. DOGE is currently trading firmly above its 20-hour and 50-hour moving averages, highlighting the strength of its near-term momentum.
What traders need to know
- Whether DOGE can break above the $0.1800-$0.1804 support zone will determine whether the breakout develops into a sustained uptrend.
- If the daily closing price breaks above the resistance level at $0.1838, an upside move towards $0.1860 to $0.1900 is possible.
- Failure to maintain current levels risks a pullback towards $0.1740-$0.1750, but institutional accumulation suggests that the decline could continue to attract buyers.
- Analysts highlight that the memecoin sector is an emerging speculative agency amid macro uncertainty. President Trump’s new fiscal statements add another potential source of volatility, and if policy optimism persists into mid-November, flows into high-beta digital assets could expand.