Technical signals remain strong, with $0.25 resistance; analysts see possible targets at $0.36 even $0.50.
Dogecoin, the internet’s favorite memecoin, is surging while the overall crypto market is trading in red due to the profit taking by investors. Dogecoin (DOGE), which is clinging to its spot as the 8th largest cryptocurrency by value, is up by 6% in the last 24 hours and is now trading around $0.25, a jump from $0.20 just a week ago.
But why is Dogecoin price surging today?
One key factor is the recent passage of the Genius Act in the U.S. House of Representatives. The new crypto bill offers clearer rules for digital assets, boosting confidence in the industry.
Instead of slowing growth, these clearer guidelines may encourage broader adoption of cryptocurrencies like Dogecoin.
Another big reason is the growing hype around meme coins. July alone has seen $17 billion flow into meme tokens, with DOGE leading the pack. Its strong brand recognition and deep liquidity make it the first choice for traders looking to ride the meme coin wave.
In addition to this, the recent Dogecoin’s partnership with Solana through Wormhole’s ZK bridge is another major boost. This integration allows DOGE to be used in decentralized finance (DeFi) applications and NFTs, expanding its use far beyond memes and tipping.
At the same time, whales are loading up on DOGE. Data from Ali Martinez shows that large investors bought over 1 billion DOGE (worth about $250 million) in just 48 hours.
Adding to the excitement, Bit Origin recently announced a $500 million fund to build its Dogecoin treasury.
However, crypto analysts Ali Martinez believe DOGE could soon test resistance at $0.27. If it breaks and holds above this level, targets of $0.30-$0.36 become possible, with some even predicting $0.50+ if momentum continues.
For now, Indicators like RSI and MACD remain bullish without showing extreme blow‑off conditions. Breakouts through prior resistance attracted momentum traders, adding a second wave of buys.
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