DOGE Surges 14% as Open Interest, Treasury Bets Power Breakout Above 22 Cents
Market Summary
• DOGE rallied 14.02% from $0.21 to $0.24 between July 17 07:00 and July 18 06:00 UTC, posting a $0.04 range with 17.6% volatility
• Whale accumulation surpassed 1.2 billion DOGE in 48 hours, triggering breakout above $0.22 resistance at 21:00 UTC
• Trading volumes peaked at 752.69 million during breakout phase, exceeding the 24-hour average of 698.42 million
• Open interest rose 12.36% to $4.04 billion, with funding rates stable and long bias intensifying
• Bit Origin secured $500 million in equity and debt to build DOGE-focused treasury operations
Price Action Overview
The rally accelerated after DOGE broke through $0.22 resistance at 21:00 UTC on July 17, triggering a wave of long interest and algorithmic inflows. Volumes spiked 7.8% above the session average as price surged from $0.22 to $0.24. That breakout created new high-volume support at $0.22–$0.225.
In the final 60 minutes (July 18 05:36–06:35 UTC), DOGE whipsawed between $0.236 and $0.24 in a 1.67% trading range. Price briefly fell under selling pressure before recovering sharply to session highs — a classic profit-taking trap followed by institutional dip-buying.
Technical Indicators
• Open interest: $4.04 billion (+12.36%) across major exchanges, suggesting strong directional positioning
• Whale inflows: 1.2B DOGE accumulated since July 16, per on-chain data from WhaleTrace
• Support zones: $0.22–$0.225 (post-breakout high-volume consolidation)
• Resistance zones: $0.245–$0.248 (previous multi-session highs)
• Final hour volatility: 1.67% intraday swing with rapid reversals between $0.236–$0.24
Sector Momentum
DOGE's rally helped lift the total memecoin market cap to $72 billion, up $17 billion in July. With Bit Origin's treasury plans and elevated open interest, analysts say DOGE could test the $0.26–$0.28 band next.(Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.)
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