Dogecoin is once again showing bullish signals as price action and on-chain data suggest a breakout may be near. After consolidating for much of 2025, the meme coin is now trading around $0.199.
Dogecoin Trading Volume Surpasses $1 Billion
One of the strongest catalysts behind this renewed optimism is the surge in daily trading volume. According to GA Trading, Dogecoin added over $1 billion in trading volume in the last 24 hours, signaling that fresh capital and interest are returning to the meme coin space. Volume spikes like this typically coincide with significant technical moves.
Surge in Wallet Count Reflects Holder Conviction
Another important metric supporting Dogecoin’s bullish setup is its holder base. May saw a dramatic one-day spike in DOGE wallets, and while that surge has eased slightly, the number of wallets remains one of the highest levels seen in 2025. A rising holder count often reflects long-term conviction rather than mere speculation.
Technical Signals Enhance Bullish Sentiment
Looking at the technical picture, the Relative Strength Index (RSI) is showing hidden bullish divergence. While DOGE's price chart has recorded lower highs, its RSI has made higher highs — a classic sign that underlying momentum is building. At the time of writing, the RSI sits in the 65–68 range, suggesting there's still room to run before entering overbought territory.
With increasing volume, expanding holder numbers, and strong technical signals, Dogecoin presents an interesting opportunity for traders in the coming weeks.
