🚀 DOGE Eyes $0.75 Comeback — But Is the Hype Backed by Volume?

Dogecoin has failed to achieve its all-time highs following multiple rallies and losses. Testing major resistance levels and bulls holding support as sell-offs mount have been the pattern so far. Meme coin volume has fluctuated throughout this period. Dogecoin trade volume may indicate price direction based on prior performance.

DOGE trading volume remains low

Dogecoin trade volume has dropped as the price has retraced in recent months. Meme currencies like DOGE have suffered from a volatile market because to investors' caution.

According to Coinglass, Dogecoin derivatives trading volume has not yet reached 50% of November 2024's market peak. The drop has been constant, with occasional increases when Dogecoin prices changed.

Only $6 billion was traded in DOGE derivatives on May 19. After peaking at $60.11 billion in November 2024, derivatives volume has dropped 90%.

Volume rose to exceed $10 billion on May 13 as DOGE bulls pushed for higher prices. The price plummeted again after another wave of sell-offs, lowering trading volume.

As derivatives activity remains low, Dogecoin prices may fall. Most crypto traders short Dogecoin, causing the suppression. Dogecoin trade volume must vary, like in November 2024, for this to alter.

Dogecoin might breach $0.5 if volume returns over $30 billion. Breaking beyond the $0.7 all-time high would take significantly higher numbers. The volume exceeded the 2021 high of $24.82 billion, but Dogecoin did not surpass $0.5. This implies considerably larger purchasing forces than 2021 are needed to get Dogecoin over $0.7 again.

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