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Dogecoin saw a sharp jump in trading activity on Tuesday, but prices did not follow immediately. Volume over the last 24 hours rose by 60%, pushing total traded value above $2 billion, according to CoinMarketCap.
Yet the token traded near $0.21 at the time of the report, down about 0.18% in the day and down 12% so far this month.
Trading Volume Surges
According to CoinMarketCap data, the sudden spike in volume shows many more hands moving DOGE than usual. Reports have disclosed that this wave of trades coincides with renewed interest among retail buyers and larger holders.
Data shows that October has historically been a strong month for Dogecoin, with modest gains of 30% to a more impressive 101% from 2021 up to 2024. Those past returns help explain why some traders expect a positive close this month.
Whales Move, Exchanges See Flow
Reports have disclosed several large transfers tied to the surge. One report described a dormant whale with a 36 DOGE seed reactivating and making a transfer valued at $26.8 million to Binance.
Another dormant wallet reportedly moved 15.115 million DOGE, valued at about $2.95 million, out of the same exchange. These movements drew attention because big transfers can change where liquidity sits and how quickly prices move when buying or selling picks up.
Another dormant wallet reportedly moved 15 million DOGE, valued at about nearly $3 million, out of Binance. These movements drew attention because big transfers can change where liquidity sits and how quickly prices move when buying or selling picks up.
Macro Drivers And Market Sentiment
The volume surge came as major cryptocurrencies showed strength. Reports have disclosed Bitcoin moving higher toward $115,000 while Ethereum traded near $4,200.
That broader rally can lift smaller tokens as traders rotate capital across markets. Still, metrics are mixed: one recent forecast predicted DOGE could rise by 13% to $0.22 by November 27, 2025, while technical indicators flagged the current sentiment as Bearish and the Fear & Greed Index sat at 50.
Outlook And Risks Ahead
The picture is straightforward and messy at the same time. Higher volume suggests interest; price action says caution. Whale transfers can both fuel rallies and add selling pressure, depending on intent.
Traders watching the symmetrical triangle will likely wait for a clear break up or down before making bigger bets. Those looking at seasonal trends may find hope in October’s past strength, but historical gains do not guarantee future returns.
Featured image from Unsplash, chart from TradingView
