DOGE Surges 35% Weekly Amid Mixed Meme Coin Market Performance

Dogecoin (DOGE) has shown remarkable resilience and growth, climbing nearly 5% to $0.2348 on Wednesday, extending its weekly gain to an impressive 35.47%. This surge comes despite a significant 20.54% drop in trading volume, indicating a complex market dynamic. With a market capitalization now standing at $35.04 billion, DOGE continues to dominate the meme coin sector, even as daily turnover of $2.86 billion suggests some waning trader enthusiasm. Meanwhile, other digital assets like Raydium, Walrus, and Ethena have emerged as top gainers, while dogwifhat, Pudgy Penguins, and Four led the losses. As of the latest update, the DOGE price is holding steady at 0.23152000 USDT, showcasing its potential for further growth in the volatile cryptocurrency market.

Dogecoin Rises Amid Declining Volume as Meme Coins Show Mixed Performance

Dogecoin (DOGE) climbed nearly 5% to $0.2348 on Wednesday, extending its weekly gain to 35.47% despite a 20.54% drop in trading volume. The meme coin’s market capitalization now stands at $35.04 billion, even as the $2.86 billion daily turnover suggests waning trader enthusiasm.

Meanwhile, Raydium, Walrus, and Ethena emerged as top gainers across digital assets, while dogwifhat, Pudgy Penguins, and Four led losses. The divergence highlights ongoing volatility in altcoin markets, particularly among meme-inspired tokens.

Dogecoin Consolidates Between Key Support and Resistance Levels

Dogecoin (DOGE) is currently trading NEAR $0.236, caught between critical support at $0.21 and resistance at $0.36. These levels, identified by on-chain analyst Ali Martinez, are backed by substantial trading activity, suggesting potential for a significant price movement.

The $0.36 resistance represents a major supply wall, with nearly 5.7 billion Doge last exchanged at this level. Profit-taking could intensify selling pressure if the price approaches this zone. Conversely, the $0.21 support level holds over 11.1 billion DOGE, accounting for roughly 7.5% of the circulating supply, indicating strong demand.

Elon Musk Shifts Focus from DOGE to AI and Robotics at Saudi-US Investment Forum

Tesla and SpaceX CEO Elon Musk made a notable appearance at the Saudi-US Investment Forum, outlining his vision for a future dominated by humanoid robots and AI-driven productivity. Musk, who has scaled back his involvement with the Department of Government Efficiency (DOGE) initiative, emphasized the transformative potential of robotics in global economies. "Ultimately, there will be tens of billions of humanoid robots," he declared, framing them as essential tools for exponential productivity gains.

The billionaire’s remarks underscored his pivot toward xAI and autonomous systems, signaling a strategic retreat from his earlier crypto-centric ventures. While Musk’s departure from DOGE-related activities may unsettle meme coin enthusiasts, his broader technological ambitions continue to captivate institutional investors and policymakers alike.

Dogecoin Futures Open Interest Surges Amid Price Dip

Dogecoin’s futures market is defying its recent price pullback, with open interest soaring to $1.62 billion—a 63.9% weekly increase. The meme coin’s derivatives activity now diverges sharply from spot performance, as traders double down on Leveraged positions despite DOGE retreating from its $0.25 peak to the $0.22-$0.23 range.

Glassnode data reveals this bullish derivatives sentiment marks a reversal from April’s slump, when open interest languished below $900 million during Dogecoin’s previous downturn. The current futures buildup suggests speculators anticipate renewed momentum, even as short-term technical indicators cool.

Tesla Stock Rises as Cybertrucks Feature in Trump’s Doha Motorcade

Tesla shares gained approximately 3% following a high-profile appearance of two Cybertruck police vehicles in US President Donald Trump’s motorcade during his visit to Doha. The angular electric pickups, notable for their imposing size and signature light bar, reinforced Trump’s vocal support for Elon Musk’s automaker. This follows the former president’s earlier endorsement of Tesla amid controversy surrounding Dogecoin.

Qatar’s Internal Security Force had already incorporated Cybertrucks into its patrol fleet prior to the presidential visit, indicating regional affinity for Tesla’s controversial vehicle. The visual spectacle of American EVs guarding a US leader abroad underscores the growing intersection of geopolitics and electric vehicle adoption.

Coinbase Accelerates Hiring for Ex-DOGE Staff Amid Musk Backlash

Coinbase CEO Brian Armstrong has opened an expedited hiring channel for former employees of Elon Musk’s Dogecoin task force, following public discontent among staff. The move comes hours after a Fox News segment highlighted workplace challenges within the controversial DOGE initiative.

"This is an open call for any @DOGE staff," Armstrong declared in a May 13 X post, positioning Coinbase as a refuge for disillusioned crypto talent. The exchange’s accelerated interview process signals aggressive recruitment during a period of sector-wide talent shuffles.