Dogecoin (DOGE) rose to $0.20 on Tuesday following a surge in trading volume, signaling renewed investor interest in the popular cryptocurrency. The token gained 1.8% during the session, breaking through a key resistance level of $0.1988.
Trading volume reached 674.52 million DOGE, nearly triple the 24-hour average, marking one of the busiest periods for the token this month. Analysts said the breakout aligns with gains in larger cryptocurrencies, such as Bitcoin and Ethereum, reflecting a broader market upswing.
The price movement saw Dogecoin establish higher lows above $0.19, suggesting a strengthening technical base. DOGE briefly tested the $0.20 psychological level before consolidating near session highs, with buyers defending gains despite late-session profit-taking.
Analysts are monitoring whether Dogecoin can maintain support above $0.1985–$0.1990. A confirmed move above $0.2003 could attract further buying and push the token toward resistance levels between $0.2030 and $0.2050. Conversely, failure to hold current levels may result in short-term volatility and a potential drop toward $0.1940–$0.1950.
Market indicators, including the MACD and RSI, remain supportive of the bullish trend, while order book and on-chain data suggest continued accumulation, including increased inflows from whale wallets. Traders are closely watching whether the current momentum can sustain a near-term retest of $0.21.
