- DOGE token jumps 47% in 24 hours as trading volume surges over 240%
- Strong support at $0.024 and $0.028-$0.030 reinforces bullish trader confidence
- DOGE nears key $0.040 resistance, with breakout or pullback likely to follow
The Department Of Government Efficiency (DOGE) token is currently making waves in the crypto market with a powerful upward move. In the last 24 hours, DOGE token jumped an impressive 47.05%, reaching a price of $0.03875. This surge has been accompanied by a massive 241.42% increase in trading volume, which now stands at $13.7 million.
The sharp rise in both price and volume suggests a strong wave of bullish sentiment and growing attention from traders and investors. With the market cap sitting at $37.94 million and over 33,000 holders, the token’s momentum seems far from a fluke. It signals the possibility of DOGE transitioning from a micro-cap curiosity to a more prominent altcoin.
Key Support Levels Reinforce Buyer Confidence
The current uptrend appears well-supported by strong foundational price levels. The most solid base lies at $0.024, which marks the token’s lowest historical point. This zone has proven to be a magnet for buyers, reinforcing its role as a firm safety net during pullbacks.
Furthermore, the $0.028 to $0.030 range served as a launchpad in recent sessions. Buyers quickly stepped in during brief dips, confirming this area as a minor but crucial layer of support. If price retracements occur, this region could stabilize DOGE’s value and allow for a healthy consolidation phase before another upward leg.
Related: Altcoin Season Delayed as Bitcoin Dominance Holds at 61.7%
Resistance Ahead Could Define Short-Term Trajectory
While the bullish energy is undeniable, DOGE now faces a critical test near the $0.039 to $0.040 resistance zone. This level has repeatedly blocked upward progress, as sellers tend to take profit around this price. Breaking above this range with strong volume could trigger a breakout scenario and open the door to new highs.
Related: Altcoin Oscillator Key to Altseason: Now 38%, Will 50% Breakout Ignite ETH to $3250?
If the $0.040 barrier is cleared, bullish traders may aim for uncharted territory. However, if the token struggles here, a short-term correction back to support levels may follow. Consequently, traders should watch volume patterns closely, as they often signal whether a breakout or rejection is imminent.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
