3 weeks ago
What to Know
DOGE dropped 8% from $0.22 to $0.21 betwixt 03:00 connected July 31 and 02:00 connected August 1, marking 1 of the steepest regular declines this month. The terms enactment unfolded wrong a wide $0.03 range—between a highest of $0.23 and a debased of $0.20—amid dense absorption astatine the precocious bound and capitulation adjacent the league close.
Volumes spiked sharply during the last hours of the session, peculiarly astatine midnight, wherever trading surged to 1.25 cardinal DOGE—well supra the 24-hour mean of 365 million. The determination suggests heightened liquidation activity, apt triggering cascading merchantability orders crossed leveraged positions.
News Background
• DOGE fell 8% implicit 24 hours arsenic measurement surged to 1.25 cardinal during overnight trading.
• Resistance astatine $0.23 held steadfast contempt aboriginal upside attempts, portion $0.21 emerged arsenic short-term support.
• Institutional wallets acquired 310 cardinal DOGE during the correction, signaling accumulation during weakness.
• Bit Origin added 40 cardinal DOGE to its treasury arsenic portion of a $500 cardinal firm diversification program.
• Broader crypto markets stay pressured by macroeconomic uncertainty, with ostentation and complaint way ambiguity clouding short-term sentiment.
Price Action Summary
DOGE tested $0.23 astir 09:00–10:00 connected July 31 but failed to prolong momentum. Selling accelerated done the day and into the evening, with the largest single-hour driblet occurring conscionable aft midnight. Price deed a debased of $0.20 earlier stabilizing adjacent $0.21, wherever it recovered repeated short-term support.
In the last 60-minute league (01:08–02:07 connected August 1), DOGE rebounded somewhat from $0.21 to $0.21, logging a humble 1% gain. The move, portion limited, came connected comparatively balanced measurement and suggests short-term stabilization. The rejection adjacent $0.21 absorption and narrowing terms set bespeak imaginable exhaustion of selling unit successful the contiguous term.
Technical Analysis
• 8% decline from $0.22 to $0.21 with a wide $0.03 range betwixt precocious and low.
• Resistance astatine $0.23 confirmed aft failed breakout attempts.
• Support adjacent $0.21 held aggregate times during last hour, showing signs of accumulation.
• Volume highest astatine 1.25 billion astir midnight—a adjacent 3x summation implicit the regular average.
• Price enactment narrowed into a choky $0.21–$0.21 band post-recovery, signaling imaginable basal formation.
What Traders Are Watching
• Whether DOGE tin prolong its footing supra the $0.21–$0.20 enactment scope successful coming sessions.
• Signs of follow-through accumulation from wallets that acquired during the selloff.
• Macroeconomic signals—including U.S. ostentation commentary and Asian equity hazard sentiment—that could power broader crypto appetite.
• Reaction to DOGE's inclusion successful Bit Origin’s strategical allocation and imaginable aboriginal treasury request catalysts.
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