Close Menu
    Ethereum

    Dogecoin Investors Watch for ‘Golden Cross’ as SHIB Jumps 6%

    Ethan CarterBy No Comments7 Mins Read
    1759379786



    a89f5951ac8b06ea5b427b5e613916883a54a7b7

    Dogecoin surged nearly 9%, breaking past resistance with over a billion tokens exchanged. Support adjusted to $0.242 after an initial breakout, while late-session trading pushed DOGE into the $0.254 range before settling.

    Analysts noted SHIB’s concurrent 6% increase — supported by record turnover of a trillion tokens and exchange balances at two-year lows — as additional proof of institutional interest in meme-coins.

    News Background

    DOGE rose by 8.8% within the 24 hours from Oct. 1, 03:00 to Oct. 2, 02:00, advancing from $0.23 to $0.25. This movement was driven by speculation about U.S. ETF approvals and significant institutional investment positions.

    Similarly, SHIB experienced a 6.2% spike during the same timeframe, with exchange reserves hitting multi-year lows, indicating a decrease in available supply as meme-coins attracted increasing interest.

    Price Action Summary

    • DOGE traded within a $0.02 range, exhibiting 9.3% volatility.
    • A breakout at 08:00 propelled the price from $0.234 to $0.242, trading 1.03B tokens — four times the average volume.
    • Intraday peaks reached $0.249 and $0.253 before sellers limited gains at $0.254.
    • In the final hour, DOGE climbed from $0.248 to $0.254 with consecutive surges exceeding 40M tokens, stabilizing around $0.252.

    Technical Analysis

    Support has recalibrated to $0.242 after the breakout, with resistance established at $0.254–$0.255. The trading session formed an ascending triangle, confirmed by higher lows and robust turnover.

    Technical analysts identified Golden Cross signals across major currencies, emphasizing bullish momentum. A decisive breach above $0.255 could pave the way towards $0.32, with ETF-related trading providing necessary momentum.

    What Traders Are Watching?

    • Whether DOGE can solidify $0.25 as strong support and aim for $0.32.
    • If ongoing ETF speculation continues to support both DOGE and SHIB as October deadlines approach.
    • SHIB’s diminishing exchange supply — at two-year lows — as a potential positive factor for meme-coin activity.
    • CD20 index reactions following significant movements in both DOGE (+9%) and SHIB (+6%) with high trading volume.