Dogecoin Prints 12% Range Amid Whale-Led Rotation From XRP

What to know:

• DOGE climbed 6.2% from $0.197 to $0.209 between July 16 at 05:00 and July 17 at 04:00.
• Price action hit $0.22 during peak trading from 14:00 to 21:00 before retracing.
• Trading volume exploded to 1.22 billion tokens during the 21:00 hour — nearly 3x the daily average of 490 million.
• DOGE overtook TRX to become the eighth-largest cryptocurrency with a $30 billion market cap.
• Final hour saw a 0.96% rally from $0.207 to $0.209, with volume surging to 19.03 million at 04:32, signaling coordinated accumulation.

News Background: Meme Resurgence Meets Whale Rotation
Dogecoin’s latest breakout comes amid renewed corporate interest in alternative assets. Market watchers attribute part of the rally to fund rebalancing post-XRP's ETF-led move, with Dogecoin emerging as a short-term rotational target. The asset’s massive liquidity, social virality, and predictable structure make it ideal for institutional momentum strategies — especially in the absence of major macro headwinds.

Price Action Summary

• Range: $0.197 → $0.220 | $0.023 swing = 11.68% volatility
• Peak Action: 1.22 billion tokens traded at 21:00 — highest since March
• Final Hour: DOGE climbed 0.96% from $0.207 → $0.209, fueled by 19.03 million volume
• Market Cap: DOGE now ranks #8 globally, displacing TRX
• Support: $0.207–$0.208 confirmed via repeated intraday bounces
• Resistance: Strong selling at $0.22, rejection visible at 21:30–22:15 window

Technical Analysis

• Breakout over $0.201 confirmed with triple-volume move
• $0.22 flagged as near-term ceiling with visible exhaustion wicks
• $0.21–$0.212 zone now functions as intraday pivot — tested twice
• RSI at 69 suggests more upside before exhaustion
• Institutional volume clusters at 14:00–21:00 support trend continuation if $0.208 holds

What Traders Are Watching

• Will DOGE establish $0.21–$0.212 as new support for next leg up?
• Reclaims above $0.22 could target $0.24–$0.25 in short order
• Failure to hold $0.207 opens up quick pullback to $0.199
• Rotational flows from XRP into DOGE may continue into weekend if ETF excitement stalls

Takeaway
Dogecoin is no longer just a meme. Tuesday’s 6.2% rally came on real volume, flipped TRX on the leaderboard, and showed strong institutional support at $0.207. The next breakout level sits at $0.22 — bulls need volume to stay above 750 million to sustain momentum.

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.

View Comments