After weeks of stagnation, Dogecoin (DOGE) appears to have finally awoken. A recovery is underway, supported by strong technical indicators and renewed interest in derivatives markets. But is this bounce sustainable ? And more importantly, how high could DOGE climb ? Full analysis.
Dogecoin recently displayed a 5% bounce, rising from $0.163 to $0.171. It has been supported by increasing accumulation from institutions and a breakthrough above key resistance levels. The most aggressive price action occurred between 12:00 and 13:00 UTC on July 6. That’s when DOGE jumped from $0.166 to $0.173 on massive trading volume of $1.14 billion. This represents nearly 6 times its daily average.
Analysts are now monitoring the resistance zone from $0.173 to $0.175. Indeed, a clear breakthrough could pave the way for gains toward $0.180 and $0.21. On-chain data also indicates that while small investors have reduced their positions, whales holding between 1 and 100 million DOGE have continued accumulating since June 28. This signals long-term confidence.
Dogecoin gained 5.01% between July 6 and 7. It confirms its bounce above the critical support of $0.166. The bullish momentum intensified between 12:00 and 13:00 UTC. DOGE reached $0.173 on a colossal volume of $1.14 billion. Since then, consolidation has occurred between $0.170 and $0.173, with multiple tests of the $0.173 resistance in the 21:00 to 23:00 window.
In the last hour of trading, DOGE moved from $0.171 to $0.172 (+0.85%), with confirmation of the breakout between 01:30 and 01:37. Volume spikes of $12.8 million at 01:16 and $8.0 million at 01:36 suggest that bullish momentum continues. Immediate resistance levels are at $0.173, $0.175, and $0.180, while the critical support remains at $0.166.
This technical recovery of DOGE comes amid persistent macroeconomic volatility, notably with the approaching deadline for President Trump’s “Liberation Day” tariffs on July 9. Meanwhile, the launch of Elon Musk’s “The American Party,” suspected of eventually integrating DOGE for payments on X, has provided additional support and increased visibility.
Despite these headwinds, DOGE’s technical structure suggests that buyers step in with each dip, a potential sign of early positioning before a larger movement. With institutional investors strengthening their exposure and whales accumulating, Dogecoin could be on track to reconnect with sustainable bullish momentum.
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