Dogecoin (DOGE) surged 10% in the last 24 hours, trading around $0.078 at time of writing. The move came alongside a broader memecoin rally that pushed PEPE up 19% and Shiba Inu up 10%.
The memecoin sector’s total market cap grew over 5.37%, with trading volume jumping 189% to around $4.14 billion. Dogecoin led in activity, with its daily volume hitting roughly $1.28 billion — more than half its weekly total in a single day.
One driver behind the move was a U.S. Treasury decision to double its long-term bond buyback. This injected liquidity into markets and weakened the dollar, boosting dollar-denominated assets like DOGE.
The crypto Fear & Greed Index climbed from 46 to 62, placing it firmly in “Greed” territory. Bitcoin crossed $70,000 and Ethereum pushed above $2,200 during the same period.
On the derivatives side, perpetual futures Open Interest rose to 17.21 billion DOGE, up from 16.87 billion the day before. Funding rates have stayed positive since August 5, showing bulls have been paying to hold long positions.
DOGE recently gained access to the Paxos network, the payment infrastructure behind PayPal and Venmo. This could increase Dogecoin’s exposure to millions of existing users on those platforms.
🚨 BREAKING NEWS 🚨 $DOGE gains access to Paxos network used by @PayPal & @Venmo
This is bigger than a headline. Access to the Paxos network could give $DOGE more exposure to payment infrastructure already connected to platforms like PayPal and Venmo.
More rails = easier…
— 𝐓𝐎𝐏 𝐃𝐎𝐆𝐄 (@TOPDOGE007) August 20, 2026
Despite the price action, DOGE Spot ETFs have seen no inflows since a net outflow of $564K on August 13. Institutional participation remains limited for now.
Analyst chad (@chad_ventures) noted on X that every bounce during the current downtrend — which began with a “South Star” signal at $0.185 — was rejected at the resistance band. He pointed out that a new “Meridian North Star” has printed, and said the key question is whether price can break and hold above that resistance band. According to chad, that level will decide whether this is a true trend change.
$DOGE this is important here.
Every bounce during this downtrend (first indicated by the South Star at $0.185) got rejected at the resistance band.
A new Meridian North Star has just been printed.
The key question now: Does price break and hold above the resistance band this… pic.twitter.com/i4oors7HJF
— chad. (@chad_ventures) August 20, 2026
Technically, DOGE broke a major trendline it had held since May and cleared a 4-hour resistance trendline. The RSI sits at 69 on the daily chart, near overbought. The MACD histogram remains positive.
The 100-day EMA at $0.080 is the immediate resistance. Below, the 50-day EMA at $0.074 and SuperTrend support at $0.069 act as a demand zone.
The next supply zone above current price remains unbroken. Whether DOGE can flip that level into support will determine the strength of this rally.
The post Dogecoin (DOGE) Price: OG Memecoins Are Running Again and DOGE Is Leading the Charge appeared first on CoinCentral.
