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Following
BNB 
BTC 
DOGE 
ETH 
SOL 
XRP Dogecoin trading volume led the gains, with the only top cryptocurrency bucking the trend.
Dogecoin trading volume recorded a 92.7% increase, while Bitcoin, Ethereum, Ripple, Solana and BNB all experienced significant declines in activity in the market. Open interest contracts grew by more than 4%, and long positions dominated exchanges such as Binance and OKX, reflecting increased confidence among derivatives market participants. Dogecoin is back on its 50-day moving average, but the long-term resistance formed by the 100-day and 200-day moving averages remains solid.
Dogecoin became the only currency among the top 20 cryptocurrencies to record a significant increase in transaction volume amid sluggish activity in the broader digital asset market. The meme surged 92.7 percent in 24-hour trading volume, and although the price only recovered modestly, traders returned to push its trading volume closer to $1.55 billion. Market data showed the biggest drop in bitcoin trading activity, with trading volumes down more than 55 percent over the same period. At the same time, trading volumes for Ethereum, Ripple, Solana and BNB also fell by about 35% to 45%. As a result, Dogecoin has become a notable exception among the largest cryptocurrencies in the market.
In addition to stronger trading activity, Dogecoin also rose nearly 6% during the latest trading session. The rally put the token back on its 50-day moving average after weeks of consolidating near the US$0.07 support level. Although the rebound was less than usual, rising participation suggests a renewed interest in buying.
Bullish participation in derivatives markets increases
Derivatives data also points to improving market sentiment. Open interest has increased by more than 4% in the past 24 hours, indicating that traders have added positions rather than just closed them. In addition, on major exchanges such as Binance and OKX, long positions continue to exceed short positions, reflecting a stronger bullish layout. At the same time, futures flow data recorded positive net inflows over the 4-hour, 8-hour and 12-hour time frames. This trend suggests that leveraged traders are steadily increasing their exposure to Dogecoin. However, spot market traffic is still mixed, indicating that derivatives participants currently have stronger confidence than spot market buyers.
Technical resistance still faces
Despite the improvement in momentum, Dogecoin still faces significant technical resistance. The 100-day and 200-day moving averages continue to tilt downward, indicating that the broader market structure has not yet shifted in favor of buyers. However, returning to the 50-day moving average while recording the strongest trading volume growth among top cryptocurrencies is in itself a positive technological development. If buying activity remains high, traders may be looking for additional confirmation signs that momentum has strengthened further beyond the recent recovery.
