Dogecoin dropped 5% during the period 24 hours a day from August 28 from August 9 to at 8:00 a.m., according to a wider weakness for risk networks.
Between August 24 to 25, an unknown whale shifted 900 million DOGE (~ 200 million dollars) To Binance portfolios, fueling the concerns of distribution and triggering market volatility.
The open interest in DOGE’s term contracts has slipped 8% after entries, reflecting lighter speculative positioning.
Chain data show that whales continue to build an exhibition, with 680 million Doge accumulated in Augustsignaling the institutional request despite the retail.
The fundamentals of the Dogecoin network remain firm, with a climb above the hashrate above 2.9 petahashes per secondemphasizing mining security at record levels.
Summary of price action
DOGE went from $ 0.22 to $ 0.21 in the negotiation window 24 hours a day, a decrease of 5% on a drop of $ 0.011 (≈3%) varies between $ 0.23 and $ 0.21.
The clearest decision occurred at 07: 24–08: 23 GMT on August 29, when DOGE dropped from $ 0.22 to $ 0.22 on a volume peak of 27.36 million at 08:20.
The mid-session flows of 626.3 million tokens coincided with the ventilation of $ 0.22, which cemented $ 0.21 as immediate support.
Despite the pressure, the token consolidated almost $ 0.21 when closing the session, suggesting stabilization after high liquidation.
Technical analysis
Support: $ 0.21 is the main floor; Extension of the risk of violation at $ 0.20.
Resistance: $ 0.23 remains the short -term ceiling after repeated refusals.
Momentum: RSI hovers near the mid -1940s, reflecting neutral biases in Port.
MacD: The downward divergence persists, without confirmed crossover.
Patterns: $ 0.21 tight at $ 0.23 The consolidation suggests a compression phase; The management will depend on the resolution of whale flows.
Volume: Raised by 626.3 million during the breakdown signals of $ 0.22.
What traders look at
That the support of $ 0.21 can hold under the current selling of the whales.
Rupture greater than $ 0.23 could pave the lane at $ 0.25 to $ 0.30.
Signs of renewed institutional accumulation while whales move the offer on exchanges.
The term contracts open up interest trends after the drop of 8%, a key signal for leverage.
