Dogecoin price has climbed more than 2% after softer US inflation boosted risk appetite, even as Binance traders have offloaded $1.2 billion in memecoins since October.
Dogecoin rallies on inflation data
Dogecoin (DOGE) was trading near $0.074 at the time of writing, up about 4.4% over the past 24 hours. The move followed a decline in US inflation to 3.5%, which lowered pressure on the Federal Reserve to raise interest rates and improved demand for speculative assets.
Even after the daily gain, Dogecoin remains below its major exponential moving averages. TradingView data shows that the token is still moving within a long-running downtrend, leaving the latest advance vulnerable to renewed selling.
Binance selling pressure persists
CryptoQuant’s figures show that about $1.2 billion in memecoin value has left Binance since October 2025. Analyst Darkfost attributed the outflows to investors cutting exposure to high-risk tokens while market conditions remained weak.
Dogecoin has fallen from about $0.26 in October 2025 to close to $0.07 in July, a decline of roughly 73% over eight months. Bitcoin, by comparison, has dropped about 50% during the same period, according to the figures cited in the report.
Interest in newer meme tokens has not disappeared completely. Since Robinhood Chain launched on July 1, tokens issued on the network have drawn fresh speculative activity, with CASHCAT reaching a market value of about $138 million.
Technical levels to watch
TradingView’s daily chart shows Dogecoin trading near the upper boundary of a descending triangle, with support clustered around $0.070 to $0.071. The pattern keeps the larger trend bearish until price closes above the falling resistance line.
The daily Relative Strength Index has recovered to about 42, but it remains below the neutral 50 level. On the 4-hour timeframe, a possible double-bottom pattern near $0.071 has formed, while the MACD has produced a bullish crossover and the Chaikin Money Flow reading has climbed to about 0.21.
A break above the neckline near $0.0755 could open a move toward $0.080 to $0.081 based on the pattern’s measured target. Failure to clear that level could send DOGE back toward support around $0.072 or $0.071.
CoinGlass data places a dense group of short-liquidation levels between about $0.075 and $0.078. Another liquidity cluster sits near $0.070 to $0.071, leaving Dogecoin between two heavily traded zones as buyers attempt to extend the inflation-led rebound.