🔹 Dogecoin (DOGE) has made a strong comeback – rebounding 17% from its weekend sell-off and firmly holding the key $0.16 support level. While global markets face geopolitical uncertainty, DOGE appears to be gearing up for further growth, especially amid rising speculation about its possible use in Elon Musk’s X payment system.
🔍 What’s Happening on the Market?
Dogecoin has bounced back quickly from the weekend drop and formed a new higher low, which bulls see as a solid signal of a continuing upward trend. The bounce from $0.1628 was accompanied by massive buying pressure, with nearly 300 million DOGE tokens traded in just a few hours.
Meanwhile, Coinbase’s support for wrapped Dogecoin (wDOGE) in DeFi apps is adding to market interest – and this meme coin is once again proving it’s no joke.
📈 Price Action & Key Technical Levels
Over the last 24 hours, DOGE traded within a tight but active range between $0.1628 and $0.1677, reflecting a price swing of nearly 3%.
Key developments:
🔹 Strong support: Confirmed at $0.1628 with heavy buying volume
🔹 Short-term resistance: Formed at $0.1677
🔹 Closing price: $0.1657 – forming a higher low and signaling bullish momentum
🔹 Last hour gain: 0.98% rise from $0.1645 to $0.1661
🔹 Volume spikes: At 01:28 and 01:34 UTC, volumes surged to $10.7M and $20.1M, pushing DOGE to a session high of $0.1664
🔹 Stabilization: In the final 15 minutes, the price held above $0.1659 with notably lower volatility
💡 What’s Driving the Rally?
Beyond technical triggers and volume surges, a major factor is speculation surrounding Elon Musk’s plans to integrate cryptocurrency payments into X (formerly Twitter). Many investors hope that Dogecoin could play a central role, significantly boosting optimism across the community.
🧠 Summary
Dogecoin is showing signs of renewed strength:
🔹 Holding crucial support
🔹 Clear volume-driven momentum
🔹 Gradually building a structure of higher lows
Altogether, this suggests DOGE might be poised for another upward wave, as long as positive sentiment continues and official confirmation about Musk's payment system arrives.
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