Major support at $0.155 collapsed under heavy selling pressure, but improving exchange flows and accelerating whale accumulation suggest downside exhaustion may be approaching.
News background
• DOGE fell from $0.160 to $0.149, breaking major support at $0.155
• Net exchange rate inflows turned positive for the first time in months – a historic precursor to relief rallies
• Analysts flag a potential DOGE ETF approval window under Section 8(a) within the next seven days
• Whale accumulation totals 4.72 billion DOGE ($770 million) over two weeks despite falling prices
• The broader crypto market remains in extreme fear, with sentiment at its lowest since April
Crypto markets continue to deteriorate as Bitcoin’s “Death Cross” and risk conditions pressure altcoins. However, DOGE’s exchange flow dynamics turned positive – a structural shift that historically appears to be close to market bottoms. Analyst Ali Martinez notes that similar inflection points preceded reversible capitulation phases in previous cycles.
Summary of price action
Dogecoin plunged 7.42% during the 24-hour session, collapsing from $0.160 to $0.149 in a crash that shattered the critical $0.155 support that anchored the previous consolidation range. Volume jumped 18.39% above weekly averages, confirming institutional participation rather than retail panic.
The selloff marked a clean breach of the 0.5 Fibonacci retracement of the previous bull cycle and drove the price directly into the lower bound of DOGE’s year-long descending triangle. The decline extended through several intraday floors before stabilizing near $0.149-$0.151. Oversold conditions emerged as RSI built bullish divergence towards fresh lows, while short-term MACD dead crosses suggested exhaustion in downward momentum.
Technical Analysis
Dogecoin now sits at a high-stakes intersection of crash confirmation versus reversal potential. The break below $0.155 completes the break in the descending triangle, which traditionally projects continuation down towards the $0.145-$0.140 zone. However, countersignals are building up.
Whale accumulation has intensified significantly, with high value wallets absorbing over 4.7B DOGE as the price fell – a sign of strong hands stepping in against weak retail flows. At the same time, net inflows of exchange rates have turned positive for the first time in months, a structural shift that previously preceded tradable bottoms.
Momentum indicators support this divergence: the RSI continues to push higher even as price prints lower lows, and the MACD’s bearish signals are fading fast. This creates a mixed but increasingly interesting setup where the technical breakdown collides with early reversal signals rooted in on-chain behavior.
DOGE’s price is likely to remain compressed between $0.149 support and $0.158 resistance until ETF catalysts or macro sentiment provide a decisive push.
What traders should see
Traders face a binary setup shaped by both regulatory catalysts and technical inflection:
• Monday’s Section 8(a) DOGE ETF deadline – a surprise approval could trigger immediate pricing
• Recovery of $0.155 — crucial to negate the breakdown and reopen path to $0.162-$0.165
• Failure at $0.150 — reveals rapid continuation towards $0.115-$0.085 demand zones
• Exchange flow direction — continued positive net inflows would strengthen the reversal thesis
• Macro sentiment — extreme fear across BTC and altcoins can provide sharp relief moves, but also increases the risk of collapse
The risk/reward setup becomes very favorable for directional traders as DOGE nears the top of a multi-year structure while ETF catalysts converge with chain accumulation dynamics.
