Dogecoin (DOGE) has demonstrated resilience by rebounding 17% from recent lows and maintaining significant buying pressure at the $0.16 support level. Closing at $0.1657, DOGE stabilized above this key level even amidst global market volatility. The recent success in stabilizing the price follows a decline to $0.142 and reflects a higher low formation that suggests potential for further upward movement. This renewed strength is partly attributed to Coinbase’s support for DeFi applications using wrapped Dogecoin, along with heightened speculation regarding Elon Musk’s X platform, which has obtained money transmitter licenses in 39 U.S. states. DOGE traded within a range of $0.1628 to $0.1677, with a notable 300 million DOGE traded at the support level, confirming strong buyer interest. The technical indicators and trading volume suggest a bullish continuation for DOGE as it closes above $0.1659, having consolidated as market volatility eases.

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