Dogecoin Tests Key Resistance as Trading Volume Surges

Dogecoin has been rallying after falling to around $0.07119. The altcoin is now testing resistance at $0.09301.

The surge in price has led to a significant increase in trading volume, reaching $5.2 billion, and open positions have risen to $1.5 billion.

If Dogecoin manages to break above the daily high of $0.09301, it could strengthen the bullish trend. However, if it fails to do so, analysts are looking at a possible correction to $0.08276 or even $0.07119 for a deeper retracement.