Dogecoin Soars 12%, Outpaces Bitcoin Amid Hype
Key Takeaways
Dogecoin (DOGE) has gained 12% within 24 hours, significantly outperforming Bitcoin (BTC). Network activity has surged — both in terms of transactions and active wallets. Technical indicators point to further upside potential. Analysts see a possibility that DOGE could rise toward its all-time high from 2021 or even reach the psychological threshold of 1 US dollar.
Dogecoin Outperforms Bitcoin in Network Activity
Dogecoin is currently showing surprisingly strong performance. According to recent on-chain data, DOGE has seen a 41.12% increase in large transactions over the past 24 hours. The number of daily active wallets also rose by 34.91%. In comparison, Bitcoin experienced double-digit declines in both metrics.
This trend indicates growing interest from both retail investors and so-called “whales” (large investors). The memecoin appears to be benefiting from the beginning of an altcoin cycle, during which alternative cryptocurrencies gain momentum relative to Bitcoin.
Technical Analysis Supports Bullish Scenario
A look at DOGE’s weekly chart reveals a “cup pattern,” a common bullish formation in technical analysis. This pattern indicates a prolonged accumulation phase that may now be transitioning into a breakout.
The key resistance zone lies between 0.20 and 0.25 US dollars. If Dogecoin can sustainably break through this range, a rise to its previous all-time high of 0.74 US dollars becomes technically possible. Some analysts even consider a move toward the psychologically important 1 US dollar mark feasible — assuming the overall market trend remains positive.
Short-Term Indicators Show Strength
There are also bullish signals on the daily chart. The MACD (Moving Average Convergence Divergence) has issued a buy signal, and the RSI (Relative Strength Index) is currently above 60 — a sign of increasing buying pressure.
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The price recently closed at 0.181 US dollars and is now approaching short-term resistance at 0.185 US dollars. If this level is broken, the next target could be 0.20 US dollars. Trader interest is clearly growing, as reflected in the rising trading volume.
Memecoins Back in the Spotlight
Dogecoin is not the only memecoin currently attracting attention. Other projects like LOFI and BLUB are also seeing increased activity. Nevertheless, DOGE remains the most well-known representative of this category — benefiting from its high brand recognition and broad community support.
The current trend shows that memecoins can return to the spotlight during periods of heightened market activity — especially when supported by technical signals.
Our Assessment
Dogecoin is currently delivering strong signals — both fundamentally and technically. The increase in network activity alongside price gains suggests genuine market interest, not just short-term speculation. If the resistance at 0.20 US dollars is broken, a further rise is likely.
Whether DOGE actually reaches the 1-dollar mark depends on several factors: overall sentiment in the crypto market, the performance of other altcoins, and the behaviour of institutional investors. In the short term, DOGE remains an exciting candidate for traders and altcoin market watchers.
| Symbol | DOGE |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $0.17 |
| 24h % | -4.59 % |
| 7d % | 10.44 % |
| 30d % | -5.98 % |
| 60d % | -28.96 % |
| 1y % | 7.25 % |
| Market Cap | $25,853,053,033.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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