Binance-DOGEUSD, the leading market meme coin, is showing signs of a rebound after weeks of experiencing a downtrend.
The two key major rebound signals currently at play include a spike in trading volume and the emergence of a golden cross pattern.
Data from CoinMarketCap revealed that the DOGE trading volume has surged 41.53% over the past 24 hours to $1.55 billion.
Within this period, Dogecoin’s price increased by 7.8% to trade at $0.1279.
Higher volume validates Dogecoin’s potential to hit $0.2 in 2026.
It often precedes stronger trends, as it reflects increased participation from retail traders, institutions, or even whale activity.
In addition to the rising volume, the Dogecoin hourly chart shows the formation of a golden cross.
In technical analysis, a golden cross is formed when a shorter-term simple moving average (SMA) crosses above a longer-term SMA.
The shorter SMA is usually the 50-period, while the longer one is typically the 200-period.
However, the DOGE hourly chart showed the 9-period SMA crossed above the 26-period.
This is a bullish signal, indicating short-term momentum is overtaking long-term trends.
It potentially marks the start of an uptrend and the ability to reach $0.2, especially with supporting volume.
Another metric that has contributed to the positive momentum in the DOGE market is the open interest.
Recently, open interest increased by 7% to $1.52 billion as investors committed 12.25 billion DOGE to the coin’s futures market.
The spike in open interest suggests positive anticipation of a major price rebound.
Open interest generally provides insight into the demand for the meme coin.
Thus, the 7% surge suggests that investors are betting on an uptick that could see the meme coin hit new levels.
Before this open interest rally, traders committed 12,140,000,000 DOGE in 24 hours despite the meme coin’s price volatility.
Overall, trading volume, golden cross and open interest combined paint a bullish picture for Dogecoin.
These factors suggest a shift from bearish consolidation to upward momentum.
A spike in trading volume and a bullish golden cross bolster near-term momentum for DOGE, nudging the price toward the $0.2 threshold.
Binance DOGEUSD, the leading market meme pair, has shown signs of a rebound after weeks of a downtrend, according to recent data.
Market participants point to two primary rebound indicators: a surge in trading volume and the emergence of a golden cross on DOGE’s chart.
Data from CoinMarketCap show DOGE’s 24-hour trading volume climbing 41.53% to $1.55 billion.
In the same period, Dogecoin’s price rose 7.8% to around $0.1279.
Greater volume is often a prelude to stronger moves, reflecting rising participation from retail traders, institutions, and even large investors.
In addition to the volume rise, the Dogecoin hourly chart is forming a golden cross, a bullish signal.
A golden cross typically occurs when a shorter-term moving average crosses above a longer-term one.
The DOGE hourly chart shows the 9-period SMA crossing above the 26-period, underscoring near-term momentum.
The shorter SMA is usually the 50-period, while the longer one is typically the 200-period.
In DOGE’s hourly timeframe, the 9-period SMA has crossed above the 26-period.
This setup signals short-term momentum gaining traction.
If sustained by volume, it could mark the start of an uptrend toward $0.2.
Open interest has also contributed to the momentum in the DOGE market.
Open interest has climbed 7% to $1.52 billion as investors added 12.25 billion DOGE to futures.
The spike in open interest signals optimism for a price rebound and reflects evolving demand for the meme coin.
Open interest, by tracking the number of outstanding futures contracts, provides insight into market participation.
Taken together, the combination of higher volume, a golden cross, and rising open interest paints a bullish picture for Dogecoin.
The upturn appears to be moving above a period of consolidation, hinting at renewed upside momentum.
Traders had previously accumulated DOGE, with 12.14 billion DOGE traded in a 24-hour window as volatility persisted.
As indicators converge, DOGE could approach the $0.2 level in the near term.
Leave a Reply