Dogecoin Rides $18B Wave, But This Sell Wall Barks Resistance

The top dog meme coin got entangled in the all-round crypto rebound rally with 77.7% gains in 30 days. Three months after trading in a narrow & rather boring price range between $0.17 & $0.21, Dogecoin tried to break out the range-bound setup in May, but that ended up with a double top formed at $0.24, not being able to claim the psychologically important $0.25 level.

DOGE Breaks Volume Record: Who Let The Dogs Out?

Luckily, July has been sizzling hot for Dogecoin (DOGE) with a breakthrough past $0.25 after a three-month long hiatus, opening up a couple of short-term price targets. As posted by crypto trader Ali Martinez, Dogecoin’s price needs to hold the $0.25 neckline level to attain $0.33 & $0.40.

If that doesn’t play out, backtracking to the previous tight range between $0.17 & $0.21 is likely. However, it doesn’t seem that the top dog is lacking in fundamentals. On July 22, 2025, DOGE picked up a humongous trading volume on Spot markets, baking up $18,008,499,546 in 24 hours, which is twice as much as the popular remittance altcoin Ripple (XRP).

Liquidation Wall At $0.26 Warns Dogecoin Holders

In a previous analysis on the leveraged crypto player sentiment, Ali Martinez highlighted the fact that crypto bears, or short-sellers in simpler terms, tend to short Dogecoin (DOGE) at the $0.26 area. Naturally, this creates a selling wall that can implode this blue-chip meme coin’s market value.

On July 20, 2025, there was a $3.5 billion liquidation leverage in the favor of bears, but DOGE kept above this dangerous area. On a brighter note, Dogecoin’s bulls managed to push the price up despite the overall long versus short ratio leaning slightly on the short-selling side, judging from CoinGlass data across crypto exchanges.

Two days later, Dogecoin’s Open Interest (OI) skyrocketed to $5.35 billion, hinting at renewed enthusiasm in speculating on Dogecoin’s (DOGE) future price among Perpetuals traders. The OI hike is particularly important in terms of market liquidity depth, so if this trend continues DOGE could fetch a huge market capitalization boost.

On The Flipside

• Breaking out of the year-long falling wedge wasn’t enough for Dogecoin to reclaim the yearly heights of $0.46, when DOGE hit a $68.588 billion market cap.
• During Dogecoin’s tremendous price run in December 2024, the dog-decorated meme coin was in heavy discussion for X integration, but the deal didn’t happen.

Why This Matters

As the general crypto market just hit $4 trillion, fundamental factors, in this particular case high trading volumes, showcase which cryptos are carrying the weight.

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People Also Ask:

What’s this $18B Dogecoin wave? Dogecoin’s trading volume hit a wild $18B on July 22, 2025, doubling XRP’s volume that day, showing massive market action and meme coin hype.

Why’s DOGE’s volume so huge? It’s uncanny—DOGE’s $18B volume, twice XRP’s, ties to broader crypto rallies, Tesla-related buzz, and growing long-term holder interest.

What’s this sell wall resistance? A hefty sell wall at $0.26 is slowing DOGE’s climb, despite that uncanny $18B volume dwarfing XRP, hinting at profit-taking pressure.

Will DOGE implode or explode? The $18B volume—double XRP’s, weirdly enough—fuels breakout hopes, but the sell wall and whale exits could trigger a dip or stall.

Where can I track DOGE’s next move? Stay updated with DailyCoin for the latest Dogecoin news, volume spikes, and market insights to catch this uncanny rally’s next twist!

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