DOGE Token Surges 3% as $8.5M Withdrawals and 161% Volume Spike Signal Bullish Momentum

Dogecoin (DOGEUSDT) experienced a 3.01% price increase over the past 24 hours, with the current price at 0.19797 on Binance. The price rise is attributed to a broader cryptocurrency market rally, driven by Bitcoin and Ethereum reaching new highs, which has positively impacted sentiment and trading activity for Dogecoin. Additional factors contributing to the upward momentum include significant exchange withdrawals totaling over $8.5 million in DOGE, reducing immediate sell pressure, and technical analysis highlighting bullish chart patterns such as a 'Cup and Handle.' Increased trading volume, with a notable surge of 161% in 24-hour volume, and continued strong market interest have supported Dogecoin’s position as the 8th largest cryptocurrency by market capitalization, with a circulating supply of approximately 150.06 billion DOGE.