Dogecoin (DOGE) trading volume on the OKX exchange surged by over 1020% within one hour, suggesting heightened interest from investors.
Sharp Increase in Trading Volume
According to CoinGlass data, Dogecoin's volume on OKX rose by 1023% in just one hour. This sharp increase may signal a buildup of buying, especially from large asset holders, known as 'whales'. The heightened volume coincided with a price rebound for Dogecoin following a significant sell-off last week.
Current Dogecoin Price
Currently, Dogecoin has demonstrated a 2.47% gain, reaching $0.201, continuing its recovery initiated on Sunday when it dropped to $0.188. On Monday, Dogecoin achieved an intraday high of $0.204 but encountered resistance at that level.
Future Price Prospects for DOGE
Forecasts for Dogecoin's further movements indicate potential consolidation between the 50- and 200-day moving averages. The price may oscillate between $0.195 and $0.2099. A breakout in either direction could determine the short-term trend. The resistance level lies at $0.21, while support is at $0.19. Attention will also be directed towards the $0.248-$0.287 range in upcoming trades.
The surge in Dogecoin's trading volume on the OKX exchange highlights investors' interest, as the cryptocurrency's price continues to fluctuate amid consolidation.
