Dogecoin outperformed major cryptocurrencies after cash and forward trading volumes jumped sharply, signaling more sustained trader activity across all markets during the recent weakness
* Short settlements exceeded $3.30 million, while positive financing rates showed that traders continued to open long positions despite wider declines in the crypto market until the May sessions
* The moving averages (EMA) bullish crossover patterns and the increase in volume readings on sale (on-balance Volume) have reinforced expectations for a possible Dogecoin rally to $0.155 over the next few sessions
Dogecoin continued to outperform the wider crypto market on May 14, after growing by more than 22% in a month despite strong selling pressure on digital assets. Bitcoin has fallen 1.46% over the last 24 hours, while total crypto market capitalization has fallen by 1.54% to $2.65 trillion. However, DOGE rose 2.29% and traded at its highest level since May 7.
Market data showed sustained activity both in cash and in the future, with buyers returning to Dogecoin. Cash trading volumes jumped 63% over 24 hours to $2.17 billion, propelling DOGE ahead of BNB, which posted $1.7 billion in daily volume over the same period.
In addition to the increase in cash demand, futures activity also accelerated sharply. Futures volumes on Dogecoin increased by 71% to $3.9 billion, compared to $1.65 billion on May 10. This rapid rise signaled stronger trader participation and a renewed short-term interest around the meme token.
A similar increase in volume attracts attention
-------------------------------------
Traders also pointed to a similar trend observed at the end of last month, when higher volumes supported a strong rebound in prices. On April 29, rising business helped DOGE move from $0.099 to $0.11 over a short period of time. Later, forward volumes reached $6.2 billion on April 30, the highest level since November 2025.
As a result, many traders now believe that current trading activity could support a new boom. Dogecoin has already gained nearly 10% since long-term volumes reached their recent peak two weeks ago.
Speculation on the CLARITY law triggers liquidations
-----------------------------------------------
Attention also shifted to the CLARITY law, as legislators prepared for markup discussions in the Senate on May 14. Senator Cynthia Lummis said lawmakers had agreed on almost all parts of the bill, which reinforced expectations of broader support during voting discussions.
Source: TradingView
In addition, stronger buying pressure forced short sellers to leave their positions quickly. The data showed that liquidations exceeded $3.30 million, as rising prices chased bearish traders out of the market. Financing rates also remained positive at 0.0043%, indicating that traders continued to open long positions despite the general weakness of the market.
Technical indicators point upwards
---------------------------------
Dogecoin also maintained bullish technical signals after the 50-day EMA passed above the 100-day EMA. A similar crossover in July 2025 preceded a rally of $0.199 to $0.287 in the space of a week. In addition, the On Balance Volume indicator continued to rise, signaling stable buying pressure as traders watched a possible move towards $0.155.
Institutional traders have also followed a renewed interest in the proposed Dogecoin ETFs, which have recently recorded new inflows and have strengthened expectations that larger investors will gradually rebuild their exposure to the token.
