Dogecoin (DOGE) Jumps 10.58% as Foundation Launches 10M DOGE Reserve

• DOGE price rises 10.58% to $0.2035, market cap reaches $30.24B.
• Dogecoin Foundation creates a 10M DOGE reserve to boost adoption.

Dogecoin (DOGE) is trading at $0.2035, up 10.58% in the last 24 hours. The market cap has grown 10.59% to $30.24 billion, with $1.83 billion in trading volume, reflecting a 16.13% increase. The market cap ratio stands at 5.97%, showing strong liquidity.

The Dogecoin Foundation has launched a 10 million DOGE reserve to increase adoption and utility. The initiative aims to enhance DOGE’s role beyond its meme status, supporting merchant incentives, mining expansion, and liquidity improvements. The House of Doge initiative focuses on integrating DOGE into everyday payments.

Will DOGE Surge Further?

DOGE recently broke past the $0.1950 resistance, reaching $0.2056. The next resistance level is $0.2100, with a breakout potentially leading to $0.2200. On the downside, $0.1850 serves as a strong support. A drop below that could push prices toward $0.1700.

The Relative Strength Index (RSI) stands at 84.31, indicating an overbought market. The 14-period RSI average is 73.06, suggesting a possible correction if buying pressure weakens. The Chaikin Money Flow (CMF) at 0.26 signals strong buying momentum. Positive CMF readings suggest that capital inflows are sustaining DOGE’s uptrend.

DOGE is trading above key moving averages, supporting bullish momentum. A bullish crossover between the 50-day and 200-day moving averages confirms an upward trend. If momentum holds, DOGE could extend gains toward $0.2300.

Dogecoin’s rally is fueled by strong technical indicators and increased adoption. If resistance at $0.2100 breaks, DOGE may target $0.2200 and beyond. However, an RSI above 80 suggests caution, as overbought conditions could trigger a pullback.