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Dogecoin (Doge), the largest Mimi currency depending on the market value, faces major resistance on the daily chart. This view comes amid a rise in the daily trading volume, which indicates an increase in the investor’s interest.
Dogecoin resistance key
According to To CoinmarketCap data, DOGE has been traded at $ 0.323, a decrease of 1.24 % over the past 24 hours. During this time frame, Dog touched a high price of $ 0.35 before declining to its current level. Now, he looks at re -testing the key resistance level at $ 0.3.
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The daily graph shows that the bears have continued to push the Doug down, as it is clear from the low price. As a result, Doug has not yet entered the Tawhid channel that will later be the basis for recovery. If Bulls recovered, the efforts to turn a level of $ 0.33 may be successful in the short term.
However, traders have increased the support of the Meme currency, as the sound profile indicates. During the past 24 hours, 5,459,592,843 dusks were mixed on the series, as the increase in trading volume by more than 45 % to $ 1.8 billion, indicating an increase in the benefit of investors.
Over the past few weeks, the extensive trading volume and the accompanying Doug’s accumulation have been an introduction to the price apostasy.
Increase the institutional interest Doge
Meanwhile, the expectations about the approval of the DOGE Transped Transpeed (ETF) approval continues to rise the encryption market. This has sparked the height of the institutional interest of the leading Mimi coin.
As U.Today, Polymarkt expected a 56 % opportunity to launch DOGE ETF in 2025. Many asset managers, including BitWise and Rex shares, have recently provided DOGE ETF requests.
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Moreover, GrayScale Investments launched the first Dogecoin box to expand digital asset offers. The new product, available only for qualified investors, will provide investors a direct way to gain exposure to DOGE.
As DOGE continues to obtain institutional interest, the price is expected to see a similar increase. Dogecoin also put a precedent for Meme currencies in the other ecosystem to launch their stock box.
