Dogecoin (DOGE) is showing an unexpected surge in trading activity even as its price remains under pressure, according to data from multiple exchanges. The meme coin traded near $0.0767 on October 25, down about 1.3% on the day, but trading volume on Binance rose roughly 19% in 24 hours, while OKX and Bitget posted stronger gains of approximately 49% and 79%, respectively.
The most striking figure came from spot flows: in a single hour, spot inflows reached $1.35 million against $1.12 million in outflows, a net inflow of about $225,000. That represented a change of more than 1,300% compared to the previous period. However, over longer timeframes the picture weakened, with 4-, 8-, and 12-hour spot flows all negative and a 24-hour net outflow of nearly $9 million.
Technical indicators remained bearish. DOGE sat below all key moving averages, with the 50- and 100-day lines near $0.0850 acting as resistance and the 200-day average near $0.0915. The RSI hovered near 33, close to oversold but not yet at a level that typically triggers a bounce. Support was seen at $0.0750, and a break below could open the door to $0.0720 and $0.0700. On the upside, DOGE needed to reclaim $0.0800 first, then $0.0850.
Derivatives data leaned bullish despite the price weakness. Long-to-short ratios were 2.7 on Binance and 4.7 on OKX, indicating most traders expected a rise. Over 24 hours, long liquidations of $5.26 million slightly exceeded short liquidations of $4.82 million. Open interest stood near $1.11 billion, with a market cap around $12 billion at the time.
A separate analysis by 360Trader noted that DOGE lost its Point of Control near $0.093 after a bear flag breakdown. The volume profile showed heavy trading around $0.092–$0.095, which could now act as resistance. The analyst identified approximately $0.0707 as the next level to watch, leaving a thinner volume gap below that could accelerate a move lower. On a 24-hour chart, DOGE recovered from an overnight low near $0.0782 to $0.08002, up 1.39% for the day, with market cap around $13.77 billion and trading volume near $646 million, down 11.37%.
In ecosystem news, DogeOS launched Dogecoin Labs, an initiative to coordinate development teams from MyDoge, Such App, and the Dogecoin Foundation. The launch does not immediately change DOGE's market value, but its longer-term relevance will depend on delivered products, active users, and continued development. For now, price structure remains the clearest short-term guide, with DOGE needing to hold above $0.079 or risk a return to lower levels near $0.0707.
