Dogecoin slipped overnight, the erasure of gains despite strong institutional accumulation, while $ 782 million in negotiation volume submerged the levels of support and sent the token in correction mode.
The movement came alongside large cryptographic liquidations, reflecting increased macro pressure.
New context
• Dogecoin went from $ 0.23 to $ 0.22 in a 24 -hour window ending on August 19 at 4:00 am, marking a drop of 4%.
• A net liquidation wave struck between 03: 00-04: 00, where volumes increased to 782 million Doge – almost double the daily average.
• The decline occurred when industry -scale liquidations exceeded $ 1 billion, triggered by American inflation impressions beating the expectations and hopes of prices fed at a rate of feeding.
• Despite the decline, institutional buyers have accumulated 2 billion Doge, worth around $ 500 million this week, bringing in total assets to 27.6 billion.
Summary of price action
• DOGE exchanged in a band of $ 0.01, reflecting 5% intraday volatility.
• A night accident led the token to test a support of $ 0.22, now considered the key level to defend.
• An attempt to rebound at the end of the session noted the prices modestly around $ 0.22, reporting the request at lows.
• Resistance is built nearly $ 0.23, where for profit and heavy sales orders reappear.
Technical analysis
• Ventilation of $ 0.23 invalidates the prior upper structure, with $ 0.22 emerging as a new short term.
• A rise in volume of 782 million DOGE validates the sale of capitulation – a potential precursor to the background.
• Support: $ 0.22 (criticism), followed by $ 0.21 if the pressure persists.
• Resistance: $ 0.23 (immediate), $ 0.25 (major rupture threshold).
• The indicators suggest mixed signals: RSI approaching the occurrence, but the momentum remains negative.
What traders look at
• that the institutional accumulation continues if $ 0.22 cracks – report a conviction or a retirement in smart money.
• Warning feeling of market risks: weakness of actions and macro opposite winds remain the dominant engine.
• 1 billion dollars + in cryptographic liquidations highlight fragility; Another macro shock could deepen.
• Recovery of $ 0.23 would be considered a short -term reversal trigger, otherwise a support test of $ 0.21 is likely.
