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Dogecoin ($DOGE), the leading market meme coin, is showing signs of a rebound after weeks of experiencing a downtrend. The two key major rebound signals currently at play include a spike in trading volume and the emergence of a golden cross pattern.
$DOGE trading volume spikes above 40%
Data from CoinMarketCap revealed that the $DOGE trading volume has surged 41.53% over the past 24 hours to $1.55 billion. Within this period, Dogecoin's price increased by 7.8% to trade at $0.1279.
Higher volume validates Dogecoin’s potential to hit $0.2 in 2026. It often precedes stronger trends, as it reflects increased participation from retail traders, institutions, or even whale activity.
For a meme coin like Dogecoin, which thrives on community hype, this could amplify momentum.
In addition to the rising volume, the Dogecoin hourly chart shows the formation of a golden cross. In technical analysis, a golden cross is formed when a shorter-term simple moving average (SMA) crosses above a longer-term SMA.
The shorter SMA is usually the 50-period, while the longer one is typically the 200-period. However, the $DOGE hourly chart showed the 9-period SMA crossed above the 26-period.
This is a bullish signal, indicating short-term momentum is overtaking long-term trends. It potentially marks the start of an uptrend and the ability to reach $0.2, especially with supporting volume.
Dogecoin investors bet on price rally
Another metric that has contributed to the positive momentum in the $DOGE market is the open interest. Recently, open interest increased by 7% to $1.52 billion as investors committed 12.25 billion $DOGE to the coin’s futures market.
The spike in open interest suggests positive anticipation of a major price rebound. Open interest generally provides insight into the demand for the meme coin. Thus, the 7% surge suggests that investors are betting on an uptick that could see the meme coin hit new levels.
Before this open interest rally, traders committed 12,140,000,000 $DOGE in 24 hours despite the meme coin’s price volatility.
Overall, trading volume, golden cross and open interest combined paint a bullish picture for Dogecoin. These factors suggest a shift from bearish consolidation to upward momentum.
These updates come shortly after the Dogecoin team celebrated a major adoption milestone. The team wrote, "Dogecoin is everywhere," after reports that Buenos Aires allows residents and businesses to settle city taxes and administrative fees using $DOGE.