Dogecoin breaks $0.20 on triple volume: bulls are preparing a new spurt

Dogecoin accelerated and within an hour broke through the $0.1988 resistance that had held the price for almost two weeks. The trading volume jumped to 674.5 million coins, which is 2.7 times higher than the average daily value and the most active hour of the month. This burst of liquidity signaled the return of large wallets that had been accumulating a position at the base of $0.19.

After the impulse, the quotes consolidated in the corridor of $0.199-0.2003, where sellers were fixing profits and buyers were buying back the dips. Minute candles showed rising lows, confirming that the pressure from above is wearing off. Market depth notes tight demand near $0.198-0.1985, forming a fresh price floor.

The technical picture is encouraging: the rising channel from early October remains intact, while MACD convergence and a robust RSI in the upper half of the range point to a bullish bias. Analysts see the next target in the $0.202-0.205 zone, where Fibonacci levels and local highs of August converge. A daily candle fixation above $0.2003 could accelerate the move and activate algorithmic traders.

Looking beyond the charts, players are looking at the on-chain. Large transfers are up 2.1% in 48 hours, and the network is recording an outflow of tokens from exchange wallets - a sign of a shift to long-term storage. In parallel, the futures curve is signaling a shift in expectations: contango is shrinking, which often heralds a rise in the spot price. The MVRV has risen to 1.43, indicating that the average holder is already in profit, but overheating is far away. The LunarCrush service reports a 37% surge in social media mentions of DOGE, and such a surge often fuels retail buying.

Market-wide risk appetite is boosting sentiment. Bitcoin is holding above $111,000 and Ethereum is storming $4,000, so the correlation tail is pulling DOGE up as well. The market structure rules out a sharp reversal: a bearish scenario would require a close below $0.194-0.195, where last week's support is centered.

A popular short-term strategy is the "$0.19-0.205" spread with an expiration in November. The range reflects the expectation of a sustained upward bias without extreme spikes. There are enough factors for a surprise: the Core hardfork is approaching, speeding up block confirmation, and marketers of a major merchant service announced a cashback in DOGE on sale. Each of these news has the potential to give the move another boost.