Dogecoin News Today: Dogecoin Hits $0.24 on Dovish Fed Signals and 165% Volume Spike

Dogecoin surged to $0.24 in late August 2025, driven by shifting market sentiment following Federal Reserve Chair Jerome Powell’s comments at the Jackson Hole Economic Symposium. The cryptocurrency rose 16% in a single day, climbing from $0.208 to $0.242, as investors priced in the possibility of a rate cut as early as September [1][3]. This optimism was reflected in broader market movements, with major digital assets and equities rising in tandem with Powell’s dovish signals [1].

The price surge was accompanied by a dramatic increase in trading volume, with 24-hour activity climbing 165% to $5.42 billion. This elevated interest pushed Dogecoin to the eighth-largest cryptocurrency by market capitalization, with a valuation of $35.52 billion, surpassing Tron [1][3]. The uptrend was not without turbulence; institutional selling at one point triggered a 9% intraday pullback before the price stabilized [6].

From a technical perspective, analysts have identified a bullish pattern forming around Dogecoin’s 50-day simple moving average of $0.218. The price has moved firmly above this level, which could act as a support base. A 40% breakout is anticipated if Dogecoin sustains its current momentum and continues trading above this threshold [2][5]. Key resistance levels ahead include $0.26, $0.29, and ultimately $0.4 and $0.48, should the coin break out of its current trading range [2].

The broader macroeconomic environment has also supported the rally. Bitcoin, for example, rose over 2% to $116,000 following Powell’s remarks, while market data suggests that Bitcoin’s market cap now accounts for 1.66% of global money supply, a sign of increased institutional interest in hard assets amid concerns over fiat devaluation [7]. Despite the positive momentum, analysts have emphasized that the crypto market remains inherently volatile, and caution is warranted [5].

Source:

[1] AInvest. https://www.ainvest.com/news/dogecoin-news-today-dogecoin-rises-0-24-dovish-fed-signals-institutional-moves-2508/

[2] CoinDesk. https://www.coindesk.com/markets/2025/08/23/dogecoin-bullish-structure-forms-after-high-volume-breakout-sees-11-doge-surge

[3] AInvest. https://www.ainvest.com/news/dogecoin-news-today-dogecoin-surges-11-17-powell-dovish-signals-eyes-0-26-breakout-2508/

[5] Mitrade. https://www.mitrade.com/insights/news/live-news/article-3-1064276-20250824

[6] The Tradable. https://thetradable.com/crypto/doge-price-tumbles-9-amid-heavy-institutional-selling-before-finding-support-2--v

[7] CoinGlass. https://www.coinglass.com/ru/news/540530