What to know:

• DOGE increased by 6.5% to $0.24, driven by institutional accumulation amid a robust market.
• Whale buyers acquired over 1 billion DOGE, indicating strong bullish patterns aiming for $0.30.
• Profit-taking halted the price near $0.25, yet support remains solid at $0.24.

Technical Analysis Overview

DOGE advanced by 6.5% over a 23-hour span, shifting from $0.23 to $0.24 with notable volatility. Early trading demonstrated strong support around $0.23, and mid-morning strength facilitated a breakout due to substantial trading volume.

Price action summary

• DOGE rose from $0.23 to $0.24 between August 12 15:00 and August 13 14:00.
• The breakout on 1.56 billion volumes cleared significant resistance levels.
• The price peaked around $0.25 before correcting to $0.24 on profit-booking.
• Support holds firm at $0.24 during late-session tests.

Market Analysis

The surge in DOGE’s price is attributed to whale activity and bullish chart setups, while the supply wall at $0.25 continues to act as an obstacle. Moving forward, sustaining institutional interest will be crucial for driving prices toward the $0.30 target.