Dogecoin Price News: DOGE Rises by 14% as Volumes Spike – Memes Are Back?

Dogecoin (DOGE) has gone up by 14% in the past 7 days and has managed to reverse its downtrend as meme coins have made a strong comeback just a few days into 2026.

Despite its undisputed dominance in this category, DOGE has not been the top-performing meme coin during this period, as other tokens in the top 5 like Pepe (PEPE) and Bonk (BONK) booked gains exceeding 35% during this same period.

What exactly is fueling this rally? That’s a bit unclear. It appears that market sentiment improved dramatically following President Donald Trump’s decision to enter Venezuelan territory.

Apart from that, not much has changed in the macroeconomic landscape. The Fear and Greed Index reflects this improvement in sentiment, as the latter has moved to Neutral territory less than 2 months after hitting a record low of 10.

Dogecoin’s Weekly Volumes Hit 2-Month High

Data from Artemis¹ shows that DOGE’s weekly trading volumes spiked last week as the token rose above $0.15.

Weekly volumes rose above $11 billion for the first time since late November, reflecting that increasing buying pressure accompanied the move. Weekly activity exceeding $10 billion has been a reliable “canary in the coal mine” for previous uptrends.

Paired with some encouraging technical signals, this could be the beginning of DOGE’s next leg up and, potentially, the start of a bullish cycle for the meme coin category.

The daily chart shows that DOGE broke its bearish price structure back in January 1 when the token climbed above the $0.12 level.

DOGE/USD Daily Chart (Coinbase) – Source: TradingView

The rally kept going for 5 consecutive days and pushed DOGE past the $0.14 barrier, which was the key resistance to watch at that point to confirm the beginning of an uptrend.

Now, the token is taking a breather and could possibly retest this price mark from above. This is a healthy pullback, and volumes are already reacting to the move, spiking above an already-augmented 14-day moving average.

The Relative Strength Index (RSI) also sent a buy signal upon climbing above the 14-day moving average. The oscillator currently sits at 54 after peaking briefly at 65. All of this reflects that positive momentum has accelerated.

Key Levels to Watch for the Next Few Days

Buyers seem to be in control of the price action at the time. As long as interest remains strong, they need to keep breaking DOGE’s sell walls to further squeeze bears out of their short positions.

The next relevant target of the top meme coin would be $0.18 – the level at which the 200-day exponential moving average (EMA) lies.

Getting to that target would mean a 27% upside potential from where DOGE is trading right now. Meanwhile, if the rally keeps going, then the token could move to much higher levels, possibly to $0.28.

Volumes need to accompany the move to confirm it. Ideally, DOGE’s weekly volume should continue to be above $10 billion to confirm that buying interest is accelerating. Retail FOMO is a critical factor that tends to push meme coins higher.

Hence, increased retail buying, social media mentions, and short squeezes would be the signal that DOGE’s rally is rapidly gaining traction.