- Dogecoin rose 5.2% to $0.1811 after breaking through key resistance at $0.1800.
- Institutional buying increased, confirmed by a 180% surge in trading volume to 649.5 million.
- Former U.S. President Donald Trump‘s comments on tariffs and dividends boosted risk appetite in speculative assets.
- The breakout signals a short-term bullish reversal with strong momentum indicators.
- Holding the $0.1800–$0.1804 level is crucial for sustaining upward momentum toward $0.1900.
On Tuesday, Dogecoin (DOGE) climbed 5.2% to trade at $0.1811 as institutional investors accelerated purchases, pushing through a key resistance level at $0.1800. This upward move occurred amid improved market risk sentiment following public remarks by former U.S. President Donald Trump. He criticized non-tariff supporters and pledged to use tariff revenues to fund $2,000 dividends for Americans, which encouraged a shift toward speculative and riskier assets.
The surge in DOGE coincided with a rebound in meme coin interest on major cryptocurrency exchanges. Traders moved funds into higher-beta tokens after four days of consolidation. DOGE’s trading volume jumped to approximately 649.5 million, a 180% increase over the 24-hour average, signaling strong institutional accumulation. The rally overcame the $0.1800 resistance, which had previously limited gains since early October.
Trump’s comments fueled expectations for looser fiscal policy and increased domestic liquidity. These macroeconomic factors historically correlate with greater appetite for high-risk digital assets. Market activity showed similar inflows across meme tokens like DOGE and SHIB, indicating coordinated rotation into this asset class.
Price action showed DOGE rising from $0.1722 to $0.1811, the widest intraday range in over a week. Buyers defended the $0.1742 support level before pushing prices past $0.1800 during the New York morning session. Trading volume spikes confirmed institutional participation. DOGE peaked briefly at $0.1826 before experiencing minor resistance and pulling back to test the breakout zone near $0.1804.
Technical indicators affirm the breakout as a bullish reversal from a period of base formation. The Relative Strength Index (RSI) approached 61, while the Moving Average Convergence Divergence (MACD) turned positive. Volume patterns reflected early accumulation, followed by late-session profit-taking at hourly levels triple the norm. Price structure shows ascending lows at $0.1745, $0.1761, and $0.1782. DOGE remains above its 20- and 50-hour moving averages, supporting the current momentum.
Key support now lies in the $0.1800 to $0.1804 zone. A confirmed daily close above resistance at $0.1838 could open an advance toward $0.1860–$0.1900. Falling below current levels might lead to a pullback near $0.1740–$0.1750, though sustained institutional buying suggests dips may attract buyers. The combination of meme coin sector interest and fiscal policy expectations is shaping market dynamics in this space.
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