Dogecoin Trading Volume Skyrockets 30% Amid Price Increases

Dogecoin (DOGE) trading volume surged 30% in 24 hours, coinciding with a 9.4% price increase to $0.2456. This boost in trading activity demonstrates investor confidence in the meme coin. DOGE is ranked 8th in the crypto market rankings with a market cap of $37.18 billion. Analysts predict an explosive breakout, with a potential new price target at $0.70 if DOGE clears the $0.36 resistance level.

Dogecoin (DOGE) experienced a significant boost in trading volume and price increase on July 2, 2025. According to CoinDesk, DOGE's trading volume surged by 30% in a 24-hour period, coinciding with a 9.4% price increase to $0.2456 [1]. This substantial increase in trading activity reflects a growing investor confidence in the meme coin.

DOGE is currently ranked 8th in the crypto market rankings, with a market capitalization of $37.18 billion [1]. Analysts predict an explosive breakout for DOGE, with a potential new price target at $0.70 if the coin clears the $0.36 resistance level [4].

The price action of DOGE has been supported by strong technical indicators. According to TradingView, DOGE has formed an ascending triangle, suggesting a bullish trend [4]. The emergence of this pattern indicates that the level of buying pressure is rising, as prices dip and subsequently make higher lows. The upper resistance level of the triangle is at $0.25, and breaking through this level could lead to a significant price increase [4].

Additionally, the Moving Average Convergence Divergence (MACD) indicator has become positive, indicating that the short-term trend has gained the advantage of the bulls [4]. This shift in momentum is significant, as previous MACD reversals have marked the onset of multi-week bull trends in DOGE [4].

The increase in trading volume is also a positive signal. As the price approaches key resistance levels, volume has been increasing steadily, indicating that more traders are becoming involved [4]. Higher volume is essential for a potential breakout to be sustainable, adding weight to the bullish case for the DOGE price [4].

However, DOGE still faces key resistance levels. The first major hurdle is $0.25, followed by $0.28 and $0.29. Breaking through these resistance levels could pave the way for a more substantial rally, with the next target set at $0.36 [4]. A successful breakout above $0.29 would be crucial for a more substantial rally.

On the downside, the DOGE price has established support at $0.21. As long as the price holds above this support, the bullish outlook remains intact. A fall below $0.21 would likely invalidate the current pattern and could send the DOGE price back to the $0.18-$0.20 range [4].

The broader market factors may also affect the DOGE price. Regulatory issues and trade tensions around the world are creating uncertainty in the cryptocurrency market, which can burden investor confidence and negatively affect the DOGE price momentum [4].

In conclusion, DOGE's recent price increase and trading volume surge demonstrate growing investor confidence in the meme coin. While DOGE faces key resistance levels, the strong technical indicators and increasing trading volume suggest a potential breakout. Analysts predict an explosive breakout if DOGE clears the $0.36 resistance level, with a potential new price target at $0.70.

References:
[1] https://www.coindesk.com/markets/2025/08/13/doge-rises-5-6-on-usd200m-whale-accumulation-despite-late-session-selloff
[2] https://u.today/157000-dogecoin-active-addresses-in-24-hours-whats-happening
[3] https://www.coindesk.com/markets/2025/08/13/dogecoin-to-the-moon-doge-price-chart-forms-golden-cross-for-first-time-since-november
[4] https://thebitjournal.com/dogecoin-price-analysis-breaking-0-25-could/