Key Takeaways:
Dogecoin’s 38% surge reflects strong market demand, with spot-buyer volumes taking charge since March.
A bullish MACD crossover has traders predicting a 180% rally, with targets at $0.65 and $1.
Dogecoin’s (DOGE) price rallied in lockstep with Ethereum over the past 7 days, gaining 38% in May, which is its strongest monthly performance this year. According to CoinGecko, DOGE recorded $4.7 billion in trading volume over the past 24 hours, ranking fifth among the top cryptocurrencies (excluding stablecoins).
The memecoin’s market strength has been coupled with strong onchain insights. Data from CryptoQuant noted that DOGE’s spot taker 90-day cumulative volume delta (CVD), which measures the net difference between buying and selling volume over 90 days, has been “taker buyer dominant.” It indicates more aggressive buying than selling, a pattern last seen in November 2024,