Dogecoin surged after Fed Chair Jerome Powell’s Jackson Hole remarks sparked renewed trader bets on a September rate cut; the meme coin climbed from $0.208 to $0.242, trading up 11.17% in 24 hours with volume jumping 165% to $5.42B, reclaiming the #8 market-cap spot at $35.52B.
Dogecoin jumped on Jackson Hole-driven rate-cut optimism
24-hour gain: +11.17%; trading volume rose 165% to $5.42 billion.
Market cap: $35.52 billion, flipping Tron to reclaim eighth place.
Dogecoin price jumps amid Jackson Hole rate-cut optimism — check live levels and outlook. Read analysis and key trading levels. (Coinotag)
What caused Dogecoin’s weekend surge?
Dogecoin’s surge was driven by macro risk-on sentiment after Fed Chair Jerome Powell signaled a possible policy adjustment at the Jackson Hole symposium, prompting traders to price in a higher probability of a September rate cut. The move coincided with heavy inflows and elevated trading volume across crypto markets.
How big was the price and volume move?
Dogecoin climbed from $0.208 to $0.242 on Friday, then settled around $0.235 at press time, marking an 11.17% 24-hour gain and roughly a 3% weekly increase. Reported trading volume rose about 165% to $5.42 billion, indicating a strong, short-term surge in market participation.
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Dogecoin reclaimed the eighth ranking by market capitalization at approximately $35.52 billion, overtaking Tron. This ranking shift reflects the outsized price and volume movement relative to peers during the session.
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Source: https://en.coinotag.com/dogecoin-could-sustain-gains-after-powell-remarks-as-analysts-flag-potential-40-upside/