Dogecoin (DOGE) Price Surge: Profits Jump 225% as Trading Volume Hits $2.71B

DOGE Rally Gains Momentum: Key Metrics Show Bullish Signals

Dogecoin (DOGE) is making headlines again as its realized profits skyrocketed by 225% in 24 hours, reaching $36.1million\ast \ast ,accordingto\ast \ast Whale.io\ast \ast data.Thememecoin’stradingvolumealsosurgedto\ast \ast$2.71 billion, reflecting growing investor interest.

Why Is Dogecoin Rising? Key Drivers Behind the Rally

1. Massive Profit-Taking Activity

   • Realized profits surged 225.58% in a single day.

   • $595.9M in daily transactions signals strong market participation.

2. Increased Whale & Retail Interest

   • Average buy price dipped slightly to $0.159, attracting new buyers.

   • HODL days at 931 indicate long-term holder confidence.

3. Price & Volume Surge

   • DOGE price up 2.47% in 24 hours, trading at $0.2296.

   • Trading volume spiked 63.39% to $2.71B, per CoinMarketCap.

DOGE Price Analysis: Can the Rally Continue?

• Resistance Level: $0.237 (recent high before minor pullback).

• Support Levels: $0.22,$0.20 (key psychological zones).

• Bullish Case: If DOGE holds above $0.23\ast \ast ,nexttargetcouldbe\ast \ast$0.25.

Why Dogecoin Still Matters in 2024

Despite its meme origins, DOGE remains a top altcoin due to:
✅ Elon Musk’s continued endorsements
✅ Growing use in microtransactions & tipping
✅ Strong retail & whale trading activity

Final Outlook: Is DOGE a Good Buy Now?

With rising profits, volume, and holder confidence, Dogecoin shows short-term bullish potential. However, traders should watch:
🔹 Bitcoin’s market influence (BTC dominance shifts)
🔹 Macro crypto trends (altcoin season momentum)