Growing whale accumulation propels Dogecoin’s rally, reflecting heightened confidence in the token.

Dogecoin (DOGE) has surged past important resistance levels with robust trading volumes, demonstrating resilience as investors seek alternatives amid economic uncertainty.

The cryptocurrency’s price chart reveals a steady series of higher lows and highs, with support solidified at $0.225. DOGE recently broke through the $0.230 resistance barrier, indicating strength in its bullish momentum.

Analysts note the formation of a “bull flag” pattern, a technical signal that suggests the uptrend is likely to continue. If current momentum holds, projections point to potential price targets near $0.65.

Key Technical Takeaways:

• DOGE rallied 6.43% over the past 24 hours, rising from $0.218 to $0.230.
• The token overcame $0.220 resistance with above-average volume levels.
• Support at $0.225 has been confirmed by sustained buying volumes above 300 million coins in consecutive hours.
• Momentum has steadily pushed DOGE toward $0.230, reflecting sustained bullish sentiment.
• A volume spike of over 21 million coins at 07:07 aided the climb from $0.229 to $0.230.
• Short-term price action shows consistent higher lows with support at $0.229.
• The $0.230 resistance was tested multiple times before finally breaking at 08:01 on nearly 10 million volume.

Amid ongoing economic headwinds, Dogecoin’s technical strength and increased volume highlight growing market confidence and the potential for further upside.