- DOGE jumps 11% as institutional buyers spark renewed market momentum.
- Analysts predict a long-term rally with potential targets near $6.90.
- Strong volume and bullish indicators suggest continued accumulation and price recovery.
Dogecoin — DOGE, roared back to life this week, leaving traders scrambling for answers. After a violent crash sent prices tumbling, the beloved meme coin staged a stunning rebound. DOGE soared 11% within 24 hours, jumping from $0.19 to $0.21 after briefly touching $0.22. Trading volume exploded to $2.54 billion, four times the daily average. Behind this surge stood one key force — institutional demand.
Institutional Power Fuels the Comeback
Big players reentered the scene, pushing DOGE through resistance levels. Trading desks drove the rally while momentum indicators flashed green. The move followed a steep fall from above $0.25 to $0.148 in just one day, mirroring the broader crypto correction. Yet, Dogecoin proved resilient, shaking off the losses with fierce determination. At the latest update, DOGE trades around $0.197, down 21.4% over the past 24 hours.
Volatility remains extreme, but optimism grows stronger. Popular crypto analyst Kaleo remains unwavering in his bullish outlook. He predicts a long-term climb toward $6.90, calling that price a “magnet” for DOGE. Kaleo’s theory stems from past market cycles. His analysis points to patterns formed after Bitcoin halving events. In both 2017 and 2021, Dogecoin exploded beyond long-term resistance levels.
Those breakouts sparked exponential growth, transforming DOGE from a joke to a global phenomenon. According to Kaleo, the current market setup mirrors the early 2021 structure. His chart highlights a familiar phase, where DOGE once again tests a crucial resistance line before liftoff. The analysis suggests that history might repeat itself, giving DOGE another chance to shine.
Chart Signals and the Road Ahead
Kaleo based his $6.90 target on market cap projections. He expects Bitcoin to reach $500,000, creating a $10 trillion market cap. If Dogecoin captures even 10% of that value, its own cap could hit $1 trillion. That calculation would translate to roughly $6.94 per coin — a figure that sounds ambitious but remains grounded in past ratios from the 2021 mania. For now, traders watch the charts closely.
Support rests at $0.19, a zone tested multiple times. Resistance builds near $0.22, where selling pressure intensifies. A strong daily close above that mark could open the path toward $0.25. Falling below $0.20, however, might spark another short-term selloff. Momentum indicators, including MACD and RSI, still lean bullish. Trading volume remains high, showing persistent institutional accumulation.
Between 13:00 and 16:00, breakout momentum surged with massive inflows. Late-session trading held above $0.21, signaling confidence among buyers. The broader meme coin sector also shows signs of recovery. Rising open interest and steady on-chain accumulation point to renewed professional activity. For many traders, DOGE feels like a coiled spring, ready for another move.
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