Meme Coin Doge expanded his slide on Monday, fell through support levels and triggered fresh sales interest as wider market risk apparatus collapsed.
What to know
Dogecoin fell 5% over the 24-hour session from August 4 at 1 p.m. 21:00 to 5 August at. 20:00 and fell from $ 0.21 to $ 0.20. The token traded within a row of $ 0.013 at a low level of $ 0.198 and heights of $ 0.211. An important liquidation event occurred during 14:00 hours on August 5, when Volume reached 877.9 million-nest 4x The 24-hour average of 268.85 million triggers a collapse of below $ 0.205.
DOGE ended the $ 0.1985 session after not regaining higher resistance zones that signaled continued institutional sales and confirmation of new momentum. The move comes in the midst of the wider crypto market’s weakness triggered by risk enthusiasts across global equities.
News Background
Dog’s decline coincided with institutional outflows from Crypto-associated ETFs totaling $ 223 million over the past week, per week. CoinShares data. Federal Reserve Hawkishness and renewed geopolitical concerns – including retaliatory and commodity disorders – have burned risk aversion across both traditional and crypto markets.
At the same time, the meme coin sector remains under pressure as retail enthusiasm fades, and large holders continue to rotate to Higher-Beta Altcoins or cash positions. DOGE had previously shown signs of accumulation last week, but non -compliance with the $ 0.205 level invalidated the setup.
Summary of Price Action
DOGE began the session strong and hit $ 0.211 at. 01:00, but turned sharply throughout the day. The steepest decline happened at. 14:00 when the price fell from $ 0.205 to $ 0.199 in the middle of 877.9 million in volume. At 19:51, another flush occurred to $ 0.1975 of 19.04 million volume – more than 70x in the hourly average – before a low jump to $ 0.1985 in the closure.
New resistance has formed nearly $ 0.205, with price that is unable to maintain any recovery above this level after the degradation. The token is currently acting near session and showing and showing no confirmation of a turnaround.
Technical analysis
- Doge traded within a 6% between $ 0.198 and $ 0.211
- Volume spiked at 877.9 million at. 14:00, nearly 4x over the daily average
- Rejection to $ 0.205 triggered collapse in the middle of the session
- Support attempted at $ 0.198- $ 0.199 but the volume of rejection remained weak
- Last hour was 19.04 m volume burst at $ 0.1975 level, creating local resistance to $ 0.1988
- Momentum is back to the downside unless the price regains $ 0.205 on convincing volume
Which dealers are looking at
Dealers look closely whether DOGE can stabilize over $ 0.198 or turn further down towards $ 0.185. Failure to recover over $ 0.205 may extend liquidations. With volumes that spik down movements and fades on recovery, sellers remain in control, unless the macro risk mood is improved or the ETF flow reverse.
