Dogecoin Rallies 5% on Trump Stimulus Talk
DOGE climbs past $0.1800 as institutional buying boosts meme coin sentiment
Dogecoin surged 5.2% to $0.1811 on Tuesday, breaking the $0.1800 resistance level as institutional flows accelerated. The rally coincided with a broader rebound in meme coins, spurred by U.S. President Donald Trump’s weekend comments pledging $2,000 dividends funded via tariffs, fueling rotation into speculative assets.
Macro Drivers
Trump’s remarks, in which he labeled non-tariff supporters “fools,” reignited expectations for looser fiscal policy and higher liquidity, supporting risk-on trades. Traders also noted inflows into SHIB, highlighting renewed interest in high-beta meme tokens after a brief consolidation period.
Volume surged to 649.5 million DOGE, about 180% above the 24-hour average, confirming institutional accumulation during the breakout.
Technical Snapshot
DOGE advanced from $0.1722 to $0.1811, peaking at $0.1826 before a minor pullback to $0.1804, testing the breakout zone.
- Higher lows at $0.1745, $0.1761, and $0.1782 point to an ascending channel.
- RSI near 61 and MACD positive indicate constructive momentum.
- DOGE trades above its 20- and 50-hour moving averages, reinforcing short-term trend strength.
Outlook
Key levels:
- Support: $0.1800–$0.1804
- Upside targets: $0.1838–$0.1900
- Downside risk: $0.1740–$0.1750 if support fails
Analysts view meme coins as speculative proxies amid macro uncertainty, with Trump’s fiscal rhetoric potentially sustaining flows into high-beta digital assets through mid-November.
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