Dogecoin Goes Wild in 5,590% Activity Surge as Price Hits Critical Low

The altcoin market continued to consolidate on Wednesday as a period of calm and stability swept across what was a chaotic market just last week. Amid the relative calm, Dogecoin has seen a significant jump in futures activity, with volumes spiking more than 5,000%.

According to CoinGlass data, Dogecoin futures volume rose 5,590.40% in the last 24 hours to $38.71 million.

The volume surge coincides with Dogecoin testing a historical support, which marked a price bottom a number of times.

According to Ali, Dogecoin has now tested the $0.14 support level five times in a row. Ali shared a price chart, which revealed a price rebound whenever a price reached this key level.

At press time, DOGE was up 1.07% in the last 24 hours to $0.15, as it rose for four days at a stretch before slightly declining.

Dogecoin began to rise from a low of $0.133 on Nov. 21 to reach a high of $0.1549 to enter a bullish consolidation phase. Technical indicators suggest potential for upward movement if resistance at $0.1549 is surpassed.

The crypto market remains gripped by “extreme fear” following last week’s sell-off and the lack of a meaningful recovery, with Dogecoin anticipating its next price move.

Broader market conditions remain cautious as speculative assets underperform large-cap crypto flows heading into year’s end. Dogecoin is generally seeing subdued leverage engagement despite stable open interest, reflecting a market waiting for a clearer macro or sector-specific catalyst before directional exposure.

Dogecoin news

Bitwise Dogecoin ETF is anticipated to launch today, Nov. 26, on NYSE Arca, with the ticker BWOW. Bitwise, in a tweet, said the product launch was based on Dogecoin community demand.

Grayscale’s GDOG ETF launched on NYSE Arca with a zero-fee structure, becoming the first U.S.-listed spot Dogecoin ETF. The ETF’s first trading day saw $1.41 million in volume but no net inflows, suggesting balanced activity from buyers and sellers.