DOGE surges to $0.16, with a market cap of 23.6 billion, regulatory positive news and on-chain activity boosting simultaneously

According to the latest news, as of January 12th, DOGE is currently trading at $0.14, up 0.94% in the past 24 hours, with a high of $0.16, and a market capitalization of approximately $23.614 billion. This marks an important breakthrough of DOGE at a key price point recently, supported by technical factors as well as regulatory developments and on-chain activity.

Price Breakthrough and Technical Support

DOGE’s recent performance shows clear signs of an upward breakout. Looking at specific data, the 24-hour trading volume reached $938 million, an increase of 85.85% compared to the previous day. This surge in volume combined with rising prices typically indicates increasing market participation.

From a technical indicator perspective, DOGE has established support at multiple key levels. According to technical analysis, Dogecoin has built a clear support level around $0.12, successfully breaking through the downtrend at $0.14 and ending the previous decline. On short-term charts, the price is trading above $0.150 and the 100-hour moving average, with an upward trendline providing ongoing support. The RSI indicator has broken above key moving averages and is above the midline, showing that bullish momentum is gradually building.

The current price position and key resistance levels are as follows:

Fundamental Positive Signals Continue

DOGE’s price support is not only from technical factors but also from ongoing positive fundamental signals.

Regulatory Environment Improvement

The U.S. Senate Banking Committee and Agriculture Committee will commence formal review of the CLARITY Act on January 15th. This bill aims to regulate crypto asset trading, explicitly prohibit false transactions and deceptive practices, require platforms to disclose reserves, and undergo regular audits. It is seen as an important step toward addressing market opacity and reducing compliance risks for institutions. If the bill progresses smoothly, it could help improve the structure of the U.S. crypto market in the long term and attract broader incremental capital into tokens like DOGE.

On-Chain Activity Remains Frequent

Recently, several notable signals have appeared on DOGE’s on-chain activity. 85.34 million DOGE (worth about $12 million) was transferred from an anonymous address to another anonymous address. Such large on-chain transfers reflect active capital flow within the market and increased participant attention to market trends.

More notably, whale addresses have opened leveraged long positions of 1.0525 million DOGE (worth about $15.48 million) on the Gate platform over the past two days. Although currently holding an unrealized loss of $1.88 million, this large leveraged position indicates that key market participants remain optimistic about DOGE’s future movement. Such institutional-level active entry signals often serve as market sentiment indicators.

Market Sentiment and Outlook

From a macro perspective, the progress of U.S. legislation and expectations of stock market stability are improving overall market sentiment. In the context of cautious sentiment across the crypto market, avoiding major crashes and legislative progress in the U.S. could allow the initial growth momentum of cryptocurrencies to continue.

Based on the CVDD (Cumulative Value Destruction Days) on-chain indicator, DOGE has reached a critical zone historically associated with strong buying interest. Historically, DOGE tends to rebound significantly after approaching this zone. Some analyses predict a potential to challenge $0.80 in the coming weeks, which suggests considerable upside from the current $0.14 price.

It is also worth noting that the 2x Dogecoin ETF has been rated by professional analysts as one of the best-performing ETFs early in 2026. Institutional interest in DOGE continues to rise, further validating market optimism toward DOGE.

Summary

DOGE reaching $0.16 and breaking through key price levels reflects multiple positive factors: clear technical support, positive RSI signals, upcoming regulatory bill progress, active on-chain activity, and institutional participation. While short-term resistance levels such as $0.1434 still require attention, the medium-term outlook is supported by improving market sentiment and strong fundamentals, providing a solid foundation for DOGE’s upward movement. Key upcoming events include the review of the CLARITY bill on January 15th and whether DOGE can effectively break through resistance around $0.151.