Dogecoin is challenging the resistance level of $0.22 with an 11% increase.

Dogecoin (DOGE) has gained 11% in value over the last 24 hours, starting to test the $0.22 resistance level. After trading within the $0.02 range from the lowest level of the last session, DOGE caught attention especially during the 1:00 PM–4:00 PM period with a surge in trading volume. The trading volume reached $2.54 billion, increasing to four times the daily average.

With a strong support level at $0.19, DOGE is facing resistance at $0.22. As the session approaches its end, consolidation above the $0.21 level indicates that the gains are being sustained. Finally, an outflow with 18.6 million in trading volume confirmed that institutional investments are ongoing.

This value increase of Dogecoin occurred as it rose from $0.19 to $0.21 between 5:00 AM on October 12 and 4:00 AM on October 13. During this period, an increase in institutional transactions and a broad recovery in meme cryptocurrencies were observed. Analysts noted that the rising open positions and heavy on-chain accumulation indicate that professional investors are re-entering the markets.

From a technical analysis perspective, the $0.19 support level forms a critical foundation. Meanwhile, resistance tests continue at the $0.22 mark. The trend structure is progressing with an upward line. The MACD and RSI indicators show that the appetite for buying continues to grow. Closing consistently above $0.22 could target the $0.24–$0.25 range. However, dropping below the $0.20 level could trigger short-term pullbacks.

Among the points investors are observing are whether DOGE can confirm a daily close above $0.22, the continuity of institutional investment flow, and whether the momentum towards the $0.24–$0.25 resistance band will continue. Additionally, cyclical flows among meme cryptocurrencies and ETF rumors continue to support market sentiment.