Dogecoin jumps 10% as OG memecoin volumes spike 189%

Dogecoin rose 10 percent to $0.0750 as volume jumped 3.5x to $1.28 billion, leading an OG memecoin resurgence that lifted sector market cap 5.37 percent.

Token Terminal data shows Dogecoin's daily volume was equivalent to more than half the weekly sum traded, with the rally partly driven by the U.S. Treasury doubling its long-term bond buyback — a move that injected liquidity and weakened U.S. dollar pegs, favoring base assets like DOGE.

Pepe led the OG memecoin cohort with 19 percent gains, while Shiba Inu matched Dogecoin's 10 percent advance. The broader memecoin sector's total trading volume climbed 189 percent to about $4.14 billion. Dogecoin's funding rates have stayed positive since Aug. 5, and the cumulative volume delta showed more than 132 million DOGE bought during a single four-hour session.

The next test is whether Dogecoin can flip the supply zone above current levels into support, which would confirm a bullish market structure shift and potentially draw institutional capital that has remained absent since a $564,000 net outflow from DOGE spot ETFs on Aug. 13.

On-chain signals turn bullish

Dogecoin broke a major trendline it had held since May and cleared a four-hour trendline resistance, including its point of origin. The price action also saw a bullish moving average cross as traders continued to buy. The memecoin gained access to the Paxos network used by PayPal and Venmo, which could expand its exposure to payment infrastructure already connected to those platforms.

Pepe showed similar on-chain strength. Its 90-day spot taker cumulative volume delta turned positive and is increasing, indicating high-conviction traders are aggressively market-buying rather than waiting for passive fills. Pepe's trading volume jumped 464 percent to $442.62 million, and whale accumulation saw large holders add around 23 trillion PEPE during recent dips. The token's RSI climbed to 68.66, approaching overbought territory, with key resistance at $0.00000725 and support at $0.00000279.

Institutional capital still missing

Despite the retail-driven rally, institutional participation in Dogecoin remains thin. DOGE spot ETFs have been inactive since a net outflow of $564,000 on Aug. 13, leaving the memecoin and its peers to speculative traders. A potential spot PEPE ETF from Canary Capital could become a major driver if regulators approve it, potentially opening the door to institutional demand.

The proposed $500 million cumulative burn target for PEPE's 420.69 trillion token supply could also support scarcity if successfully carried out. For Dogecoin, the key question is whether bulls can turn the $0.08 level into support — breaching the next significant supply zone will determine the scale of the rally's sustainability. If the supply zone holds, Dogecoin could face a pullback toward the $0.0750 level, where it previously encountered difficulty.

This article is for informational purposes only and does not constitute investment advice.