Dogecoin ripped nearly 9% higher, breaking through resistance on more than a billion tokens traded. Support reset to $0.242 after an early breakout, while late-session flows pushed DOGE into the $0.254 zone before consolidation.
Traders pointed to SHIB’s parallel 6% rally — underpinned by record trillion-token turnover and exchange balances at two-year lows — as further evidence of institutional accumulation across meme-coins.
News Background
DOGE advanced 8.8% over the 24 hours from Oct. 1, 03:00 to Oct. 2, 02:00, climbing from $0.23 to $0.25. The move was fueled by speculation around U.S. ETF approvals and aggressive institutional positioning.
SHIB also surged 6.2% in the same window, with exchange reserves dropping to multi-year lows, underscoring a reduction in available supply as meme-coins gained broader bid interest.
Price Action Summary
- DOGE traded a $0.02 corridor, marking 9.3% volatility.
- Breakout at 08:00 drove price from $0.234 to $0.242 on 1.03B tokens — 4x the average.
- Intraday highs stretched to $0.249 and $0.253 before sellers capped at $0.254.
- Final hour saw DOGE climb from $0.248 to $0.254 on back-to-back 40M+ surges, settling near $0.252.
Technical Analysis
Support has shifted to $0.242 following the breakout, with resistance hardened at $0.254–$0.255. The session carved an ascending triangle, validated by higher lows and sustained turnover.
Technical desks noted Golden Cross signals across majors, reinforcing bullish momentum. Analysts flagged a decisive break above $0.255 as opening a path toward $0.32 — with ETF-driven flows providing the catalyst.
What Traders Are Watching?
- Whether DOGE can flip $0.25 into firm support and push toward $0.32.
- If ETF speculation continues to underpin both DOGE and SHIB into October deadlines.
- SHIB’s exchange supply squeeze — at two-year lows — as a potential tailwind for meme-coin rotation.
- CD20 index reaction after both DOGE (+9%) and SHIB (+6%) posted outsized moves on heavy turnover.