9 hours ago
Dogecoin slid overnight, erasing gains contempt dense organization accumulation, arsenic $782 cardinal successful trading measurement overwhelmed enactment levels and sent the token into correction mode.
The determination came alongside wide crypto liquidations, reflecting heightened macro pressure.
News Background
• Dogecoin dropped from $0.23 to $0.22 successful a 24-hour model ending August 19 astatine 04:00, marking a 4% decline.
• A crisp liquidation question deed betwixt 03:00-04:00, wherever volumes spiked to 782 cardinal DOGE — astir treble the regular average.
• The diminution occurred arsenic industry-wide liquidations topped $1 billion, triggered by U.S. ostentation prints beating expectations and denting Fed rate-cut hopes.
• Despite the drop, organization buyers person accumulated 2 cardinal DOGE worthy astir $500 cardinal this week, bringing full reported holdings to 27.6 billion.
Price Action Summary
• DOGE traded wrong a $0.01 band, reflecting 5% intraday volatility.
• Overnight clang drove the token to trial $0.22 support, present viewed arsenic the cardinal level to defend.
• A late-session rebound effort lifted prices modestly backmost toward $0.22, signaling request astatine the lows.
• Resistance is gathering adjacent $0.23, wherever profit-taking and dense merchantability orders reappear.
Technical Analysis
• Breakdown from $0.23 invalidates anterior bullish structure, with $0.22 emerging arsenic caller short-term floor.
• Volume surge of 782 cardinal DOGE validates capitulation selling — a imaginable precursor to bottommost formation.
• Support: $0.22 (critical), followed by $0.21 if unit persists.
• Resistance: $0.23 (immediate), $0.25 (major breakout threshold).
• Indicators suggest mixed signals: RSI approaching oversold, but momentum remains negative.
What Traders Are Watching
• Whether organization accumulation continues if $0.22 cracks — signaling astute wealth condemnation oregon retreat.
• Broader marketplace hazard sentiment: equity weakness and macro headwinds stay the ascendant driver.
• $1 billion+ successful crypto liquidations item fragility; different macro daze could deepen downside.
• A reclaim of $0.23 would beryllium seen arsenic a short-term reversal trigger, different $0.21 enactment trial is likely.
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