Dogecoin (DOGE) price is up 10% in the last 24 hours, catching the eye of traders with increased activity. The recent surge in trading volume and trend indicators like ADX reflect growing interest in the market. This bullish momentum is further supported by the positioning of DOGE’s EMA lines, pointing to a potential continuation of the uptrend.

If this strength holds, DOGE could soon test key resistance levels, with room for further gains. However, a reversal could lead to a retest of support zones, making it an important time to watch for trend changes.

DOGE Daily Volume Recently Crossed $ 2 Billion

DOGE’s daily trading volume recently spiked to $2.27 billion, the highest since August 5. It has since settled slightly, now sitting at $2.12 billion. Such a surge in volume indicates heightened activity, drawing the attention of traders and investors alike.

This uptick in volume can signal potential shifts in the market trend, making it a key metric for assessing buying or selling pressure.

Tracking trading volume is crucial because it provides insight into the strength behind price movements. The recent surge in DOGE’s volume appears to correlate with its price increase, from $0.10 to $0.134 between October 10 and October 18.

Higher trading volumes often indicate a stronger market conviction, and in this case, it suggests that the price rise has significant backing. The increase in activity supports the notion that investors have confidence in the current trend, potentially pushing DOGE towards further gains.

Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know

Dogecoin’s Current Uptrend Is Strong

DOGE’s ADX currently sits at 34.12, climbing from just 13 just four days ago. This substantial increase indicates that DOGE’s market trend is
Go to Source to See Full Article
Author: Tiago Amaral