Dogecoin (CRYPTO: DOGE) is making waves again, with a notable 10% rally over the past 24 hours spurring bullish predictions on social media.
What Happened: Crypto trader Scofield declared Dogecoin "is back" and stronger than before.
Daan Crypto Trades observed that DOGE is trading between two major weekly levels from its 2021 run. He emphasized the importance of the $0.35–$0.45 range, with DOGE finding strong support near $0.38.
He predicts a successful retest of $0.45 will likely lead to a breakout.
Taking a cautious stance, Master Kenobi forecasted a red weekly close followed by two green weeks and a major price pump starting around Dec. 30.
Also Read: Dogecoin Drops 14%, Shiba Inu Sinks 17%: What’s Behind The Decline?
Why It Matters: Dogecoin is once again leading trading volumes in the cryptocurrency market, signaling strong investor interest.
Cryptocurrency Inside indicates DOGE tops the charts for trading volume, with $9.52 billion in 24-hour volume outpacing that of Pepe (CRYPTO: PEPE) at $6.58 billion and Shiba Inu (CRYPTO: SHIB) at $2.24 billion.
Coinglass data reports $17.9 million liquidations in the past 24 hours as open interest spiked by 5.6% to $3.3 billion.
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