DOGE Surges 7.96% as Major Holders Accumulate, Breaks Key Resistance With Bullish Technicals

Dogecoin (DOGEUSDT) has risen by approximately 7.96% over the past 24 hours, with the current price at $0.22130 according to Binance data. This price increase is primarily attributed to significant accumulation by large holders at the $0.21 support level, as well as the formation of a double-bottom reversal pattern and alignment with a long-term rising trend channel, both of which have contributed to a bullish technical outlook. Despite a recent decrease in trading volume and open interest in DOGE futures, the surge in spot price and strong on-chain accumulation have supported positive momentum.

Currently, Dogecoin's 24-hour trading volume is around $2.02 billion, and its market capitalization stands at approximately $33.50 billion. The asset has broken through key resistance levels and is trading above major moving averages, reinforcing the bullish sentiment, though traders are monitoring for potential short-term consolidation after the rapid price movement.