3 Reasons Why Dogecoin Price is Up Today Despite Crypto Market Crash

Dogecoin (DOGE) has risen by 22% in just one month, and at the time of writing, it was outperforming Bitcoin that was down by 1.46% in 24 hours. Many coins were also in the red because the total market cap was down by 1.54% today, May 14, to $2.65 trillion. But Dogecoin price was up by 2.29%, and there is no major catalyst like Elon Musk mentioning DOGE or whales buying. However, three reasons could explain why it is at its highest level since May 7.

Dogecoin’s Spot and Futures Volumes Surge

Dogecoin goes up when there is a lot of buying, and this might be going on now with volumes up by 63% in 24 hours to $2.17 billion. It had seen more volumes than BNB that had $1.7 billion per CoinMarketCap.

Dogecoin price is usually about to go up when this number increases, and this was seen on April 29 when volumes went up, and Dogecoin price went from $0.099 to $0.11.

Dogecoin’s volumes in the futures market had also increased by 71% at the time of writing to $3.9 billion. On May 10, the number was at only $1.65 billion, meaning that they have increased by 2.36X in just four days.

An increase usually precedes gains for DOGE, and the proof of this is how this number reached $6.2 billion on April 30, the highest level since November 2025, and two weeks after that, the price is up by 9.6%.

CLARITY Act Hype Causes Short Squeeze

CLARITY Act is heading for a Senate markup today, May 14. Senator Cynthia Lummis has said senators have agreed on 99% of the bill, and this makes the vote today likely to favor those who have been supporting the bill.

All eyes today are on how the Senate is going to decide on CLARITY, and this is what might be moving Dogecoin price, because some tend to buy early before the actual voting happens.

This buying has devastated short sellers because $3.30 million positions were closed forcefully. This led to buying, and Dogecoin price moved up.

The pain by short sellers is causing long buying because funding rates are green at 0.0043%. Those who are going long are willing to pay a 0.0043% fee to not close their positions. This supports a bullish long-term Dogecoin price prediction.

Bullish Crossover Signals Upcoming Dogecoin Price Rally

The 50-day EMA is above the 100-day, and this tends to be good for price, like in July 2025. The price of Dogecoin went from $0.199 to $0.287 one week after this crossover happened.

DOGE price went up by 46% last year when the EMA crossover happened, and if this happens again, it might reach $0.155.

Institutions may be betting on the July 2025 move happening again after a previous Dogecoin price analysis noted DOGE ETFs are seeing inflows again.

The OBV has a reading where the line is going up, and this suggests there is more buying than selling taking place. It is likely that Dogecoin will reach $0.155 as long as the OBV is tipping north.