If you thought cryptocurrency couldn’t get any weirder, allow me to introduce you to Dogecoin, the Shiba Inu-themed darling of folk with an odd tolerance for volatility and memes. In the last 24 hours, market activity has absolutely exploded: we’re talking a 328% jump in trading volume (that’s $1.5 billion, which, incidentally, would buy you about five billion plush Shiba Inus). All this courtesy of CoinMarketCap, and not, as I first assumed, a typo or the result of a caffeinated squirrel on a keyboard.
The coin itself spiked over 5% in a day—up to $0.177. This followed a weekend bounce, because clearly crypto markets like to unwind after a hard week before coming back and promptly giving everyone heart palpitations on Monday. Notably, Dogecoin’s price surge reportedly lured in “whale wallets,” which is crypto jargon for “people alarmingly comfortable with losing lots of money in a blink.” The whales started swimming, and suddenly everyone decided the water was just fine—for now. 🐋
What’s happening?
Dogecoin, in its latest bid for drama, just pulled a golden cross on its hourly chart. If you’re not a chart enthusiast (congratulations on your sanity), this is where the 50-day moving average overtakes the 200-day average, and crypto enthusiasts everywhere interpret it as a sign from the universe or, more likely, as a very expensive party invitation.
Result? Swarms of traders rushed in, presumably clutching lucky Doge socks and a prayer. Over at OKX, the DOGEUSD trading pair saw a casual 5,269% volume spike—yes, five thousand percent—while Coinbase had to settle for a paltry 330%. If you missed those numbers, don’t worry, it’s entirely possible nobody understands them, but they do sound impressive, don’t they?
Futures open interest hit an eye-watering $2.09 billion, so traders are essentially lining up to balance on a tightrope made of spaghetti. Apparently, a double-bottom at $0.15 (not to be confused with a “double latte at Starbucks”) has signaled some sort of cosmic rebound, and if the planets align and the memes are strong, the next resistance levels are at $0.186 and $0.226. Fingers crossed, toes crossed, and maybe just skip checking your balance this week.
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2025-07-07 15:55