Dogecoin Breaks $0.195 Resistance on Elevated Trading Activity, Wyckoff Setup Indicates Next Bullish Phase

Dogecoin Clears $0.195 as Wyckoff Accumulation Points to Next Leg Higher

Dogecoin surged 2.4% on strong institutional flows, breaking key resistance and signaling potential continuation within a Wyckoff accumulation phase. Analysts note that maintaining support above $0.194 could pave the way for further upside.

Market Overview

DOGE advanced from $0.1911 to $0.1957, surpassing the $0.1953 resistance zone on exceptional volume of 483 million, 68% above the 24-hour average. The memecoin traded in a tight $0.0068 intraday range (3.5% volatility), forming higher lows at $0.1931, $0.1936, and $0.1949, reflecting steady accumulation by larger holders.

Despite limited macro catalysts, DOGE’s rally coincided with strength across high-beta altcoins and Bitcoin’s recovery above $67,000, reinforcing bullish sentiment.

Price Action

The breakout occurred during the 23 October 11:00 session, establishing new short-term support at $0.1940. Aggressive buying absorbed supply during retests, and DOGE consolidated between $0.1954–$0.1960, indicating earlier institutional accumulation. Hourly moves saw prices briefly touch $0.1960 before settling at $0.1956, confirming firm support above breakout levels.

Technical Analysis

DOGE exhibits a short-term ascending trend with higher lows and defined support at $0.1940. The breakout through $0.1953 validates bullish momentum, while volume patterns highlight accumulation rather than profit-taking. Historical patterns resemble rounded-bottom formations from previous cycles, often preceding multi-week rallies. Momentum indicators remain positive, supporting continuation if support holds.

Key Levels & Outlook

Traders are watching for DOGE to sustain above $0.195 and enter a Wyckoff markup phase. A breakout above $0.20 could attract algorithmic inflows, while failure to defend $0.194 risks retracement toward $0.188. Declining exchange-held DOGE reserves reinforce the bullish thesis, signaling confidence from long-term holders.

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