Dogecoin (DOGE) Tests Critical Resistance Level Amidst Growing Investor Interest and Institutional Support

Dogecoin (DOGE), the leading meme coin by market capitalization, is currently testing a critical resistance level, amidst growing investor interest

Dogecoin (CRYPTO: DOGE) is trading lower Monday evening after seeing some early gains.

Benzinga is taking a look back at some of the key events that impacted DOGE over the past week.

What Happened: Dogecoin saw a choppy start to the week, trading lower Monday evening after seeing some early gains.

The meme coin opened the week at the $0.31 level and quickly saw a move to the downside on Monday.

DOGE reached a low of $0.293 before finding support and beginning to rally.

The rally saw DOGE reach a high of $0.34 on Tuesday before once again seeing a pullback.

Later in the week, DOGE saw a move back to the upside, reaching a high of $0.35.

The highs and lows of the week created a trading range between $0.293 and $30.35 for DOGE.

At the time of writing, Monday’s lows are once again being tested by DOGE.

Key Levels To Watch: Dogecoin saw a strong rally off the lows of 2023, which were created in early January.

The meme coin reached highs of $0.38 in February, which marked a 30% gain from the lows.

DOGE has since pulled back from the highs and is now testing the lows of a recent trading range.

The lows of the range came in at the $0.293 to $0.295 level, which also acted as support in February.

If the lows of the range can’t hold, traders could see a drop to the prior lows near $0.26.

On the upside, a break above the highs of the range at $0.33 could set up a move back to the February highs.

DOGE Price Action: Dogecoin is down 1.24% during the past 24 hours to the current price of $0.323, according to CoinMarketCap.

DOGE has a trading volume of $5.46 billion in the past 24 hours, which marks an increase of around 45%.

The price range of Dogecoin over the past 24 hours is between $0.31 and $0.33.