Peter Smith
Dogecoin (DOGE) trading volume surged an incredible 11,558% on Coinbase, hitting $17.63 million in 24 hours as traders jump on the volatility bandwagon.
Something wild just happened with Dogecoin (DOGE). The meme coin that started as a joke has suddenly become the center of attention on Coinbase, where trading volume absolutely exploded by 11,558% in just 24 hours. We're talking about a jump from practically nothing to $17.63 million in trades, according to CoinGlass data.
This isn't your typical crypto pump either. The surge is happening specifically on Coinbase's DOGE/USD pair, which suggests something interesting is going on with American traders. When you see this kind of isolated action on one exchange, it usually means there's serious demand from that platform's user base.
Dogecoin has always been a magnet for speculators, and this volume spike screams that short-term traders are piling in to ride the volatility wave. The timing is pretty telling too - while the broader crypto market is dealing with macro headwinds, traders are betting big on DOGE's notorious price swings.
DOGE Price Tells a Different Story
Here's where it gets interesting. Despite all this trading frenzy, Dogecoin (DOGE) actually dropped 1.56% to $0.1653 over the past day. That's the crypto market for you - massive volume doesn't always mean prices go up.
The bigger picture shows DOGE's total trading volume hit $822 million across all exchanges in the last 24 hours, according to CoinMarketCap. So while Coinbase is seeing crazy action, the whole market is paying attention to this dog coin.
Technical Setup: DOGE at a Crossroads
Looking at the charts, Dogecoin (DOGE) is painting a classic double bottom pattern around $0.15 support. Earlier this week, the coin climbed steadily to close at $0.175 before pulling back to $0.161 on July 4th.
The technical picture is pretty clear cut. If DOGE breaks below $0.14, we could see selling accelerate toward $0.10. But if buyers can push it above $0.21 resistance, that's when the real fun starts.
With volume surging like this while price action remains mixed, Dogecoin (DOGE) is clearly at a make-or-break moment. The 11,558% volume explosion on Coinbase shows traders are positioning for something big - the question is which direction it'll go.
Peter Smith
