Dogecoin Price News: DOGE Rises by 14% as Volumes Spike – Memes Are Back?
Published: January 08, 2026
Key Highlights
- Meme coins, including Dogecoin (DOGE), have seen a resurgence at the start of 2026.
- DOGE's trading volumes exceeded $10 billion, indicating increased buying pressure.
- The price of DOGE is projected to reach $0.18 if the support level at $0.14 holds.
Market Overview
Dogecoin has experienced a 14% increase over the past week, reversing its previous downtrend as meme coins gain popularity. Despite its strong presence in the meme coin category, DOGE has not been the top performer, with other tokens like Pepe (PEPE) and Bonk (BONK) achieving gains over 35% during the same timeframe.
Factors Driving the Rally
The exact reasons behind this rally remain somewhat unclear, but a notable improvement in market sentiment has been observed, particularly following President Donald Trump's recent actions in Venezuela. The Fear and Greed Index has also shifted to a Neutral position, recovering from a record low of 10 just two months prior.
Trading Volume Insights
Data from Artemis1 indicates that DOGE's weekly trading volumes surged above $11 billion, marking the highest level since late November. This spike in volume is seen as a positive indicator, often preceding upward trends in the market. The daily chart shows that DOGE broke its bearish trend on January 1 by surpassing the $0.12 mark, continuing its upward trajectory for five consecutive days.
Technical Analysis
Currently, DOGE is experiencing a healthy pullback after breaking through the $0.14 resistance level. The Relative Strength Index (RSI) has also shown positive momentum, climbing above its 14-day moving average, which suggests that buyers are in control. The next significant target for DOGE is $0.18, which aligns with the 200-day exponential moving average (EMA), representing a potential upside of 27% from current levels.
Future Outlook
For DOGE to maintain its upward momentum, it is crucial that trading volumes remain above $10 billion. Increased retail interest, social media engagement, and potential short squeezes could further propel DOGE's price. If the rally continues, there is potential for DOGE to reach even higher levels, possibly up to $0.28.
Conclusion
The resurgence of Dogecoin and other meme coins highlights the volatile nature of the cryptocurrency market, driven by sentiment and trading activity. Investors should remain vigilant and monitor key levels and trading volumes to gauge the sustainability of this rally.