Dogecoin (DOGE), the largest meme coin by market capitalization, looks ready for a bullish price rebound, as indicated by the recent surge in trading volume. Over the past 24 hours, the DOGE trading volume spiked more than 43%.

DOGE traders resume activity

According to CoinMarketCap data, the DOGE trading volume jumped 43.5% to $3.1 billion. The jump in DOGE trading volume signals heightened interest from buyers and sellers.

This is bullish for DOGE as high volume acts like fuel for price moves. In crypto, a big volume jump suggests real conviction, maybe retail hype, whale accumulation or news catalysts. 

For Dogecoin, which thrives on social media virality, this could precede a price rally. As of mid-2025, the DOGE daily volume hovered between $1-$2 billion.

However, the Dogecoin price staged a mild rebound on Oct. 27 after daily trading volume jumped 62% to over $2 billion.

At the time, DOGE found key support around $0.20. Consequently, analysts forecasted 60% potential gains, possibly targeting $0.32. 

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Their prediction aligned with expectations of a positive October close. Historically, DOGE has traded in the green for four consecutive years, beginning in October 2021.

Dogecoin eyes $0.016 as short-term target

Currently, the DOGE price trades at $0.1573, down 2.72% over the past 24 hours. DOGE climbed back to $0.1572 after testing the $0.152-0.154 demand zone. Buyers quickly stepped in, preventing a further decline and shifting momentum on the short-term charts.

The short-term momentum is improving, especially amid surging trading volume. Dogecoin bulls could attempt another push toward $0.160 as long as DOGE holds above $0.156.

However, failure to stay above $0.155 puts DOGE at risk of retesting lows between $0.152 and $0.153.

Intriguingly, Dogecoin recently experienced an increase in futures activity. Notably, Dogecoin futures traders have committed 2.16 billion DOGE to its derivatives market, signaling renewed interest across the ecosystem.

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