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DOGECOIN (DOGE), the largest piece of memes by market capitalization, faces a key resistance on the daily graphic. This perspective comes in the middle of a peak in the daily negotiation volume, demonstrating increased interest in investors.
Dogecoin key resistance
According to For CoinmarketCap data, DOGE was negotiated at $ 0.323, down 1.24% in the last 24 hours. Within this period, DOGE affected a high price of $ 0.35 before moving to its current level. Now he plans to retest his level of key resistance at $ 0.3.
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The daily graph shows that the bears continued to push Doge to the bottom, as indicated by the downward price. Consequently, DOGE has not yet entered a consolidation channel which will later become a recovery base. If the bulls are recovered, the effort to return the level of $ 0.33 could succeed in the short term.
However, traders have increased support for memes play, as the volume profile indicates. During the last 24 hours, 5,459,592,843 DOGE was mixed with the chain, amounting to an increase in negotiation volume of more than 45% to $ 1.8 billion, showing an increase in investor interest.
In recent weeks, an intense commercial volume and Accumulation of accompaniment doge were a precursor of price rebounds.
The arrow of Institutional Interest Doge
Meanwhile, expectations concerning the approval of a bargain on the stock market (ETF) continue to increase on the cryptography market. This has aroused an increase in institutional interest for the main piece of memes.
As reported By U.TODAY, Polymarket has planned a 56% chance of launching an ETF DOGE in 2025. Several asset managers, including Bitwise and Rex actions, recently submitted requests for an ETF DOGE.
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In addition, gray level investments have spear His first Trust Dogecoin to expand his digital asset offers. The new product, available only for eligible investors, will offer investors a direct way to expose themselves to Doge.
While DOGE continues to obtain institutional interests, the price should see a corresponding increase. Dogecoin has also created a precedent for other parts of memes of ecosystem to launch its negotiated grant fund.