DOGE sees a 6% increase, with traders targeting the 35-cent mark.
Dogecoin (DOGE) surged 6% to $0.27 on strong trading activity exceeding 1.1 billion tokens, with large holders adding 30 million coins. Institutional buying has shifted support higher into the $0.27 zone, setting the stage for a potential breakout toward $0.30–$0.35. Speculation around 401(k) retirement fund eligibility is adding to the bullish sentiment.
Market Background
The rally, spanning Oct. 6–7, was supported by significant accumulation from mid-tier and whale investors, alongside exchange outflows totaling around $25 million. Analysts highlight ascending triangle patterns and cyclical signals suggesting further upside. Regulatory discussions on retirement fund inclusion are also contributing to optimism.
Technical Overview
- Trading range: $0.25–$0.27
- Support: $0.27, reinforced by high-volume bids
- Resistance: $0.27–$0.30
- Chart pattern: Ascending triangle, signaling higher lows toward resistance
Key Observations for Traders
- Can DOGE hold $0.27 and confirm it as a base?
- Breakout above $0.30 may target $0.32–$0.35
- Continued whale accumulation could tighten supply further
- Regulatory news on retirement fund inclusion could drive additional inflows
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