What to know
DOGE dropped 8% from $ 0.22 to $ 0.21 between 03:00 on July 31 and 02:00 on August 1st and marked one of the steepest daily falls this month. Price action unfolded within a wide $ 0.03 range – between a top of $ 0.23 and a low level of $ 0.20 – Amid heavy resistance at the upper limit and capitulation near the session closely.
Volumes spiked sharply during the last hours of the session, especially at midnight, with trade rising to 1.25 billion doge-good over the 24-hour average of 365 million. The move suggests increased liquidation activity, which probably triggers cascading sales orders across geared positions.
News Background
• DOGE dropped 8% over 24 hours as volume increased to 1.25 billion during trade overnight.
• Resistance to $ 0.23 held on despite early upside -up attempts, while $ 0.21 emerged as short -term support.
• Institutional wallets acquired 310 million DOGE during the correction and signaled accumulation under weakness.
• Bit Origin added 40 million DOGE to its treasury as part of a $ 500 million diversification program.
• Wider crypto markets remain pressured by macroeconomic uncertainty with inflation and speed paths that owe short-term mood.
Summary of Price Action
DOGE tested $ 0.23 around 09: 00-10: 00 on July 31, but failed to maintain momentum. Sales of accelerated throughout the afternoon and in the evening, with the biggest drop in an hour’s time that occurred just after midnight. Price hit a low level of $ 0.20 before stabilizing nearly $ 0.21, where it found repeated short -term support.
In the last 60-minute session (01: 08–02: 07 on August 1) Rebound Doge slightly from $ 0.21 to $ 0.21, logging a modest 1% gain. The move, while limited, came on relatively balanced volume and suggests short -term stabilization. The rejection near $ 0.21 resistance and narrowing price tape indicates potential fatigue of sales pressure in the immediate period.
Technical analysis
• 8% fall from $ 0.22 to $ 0.21 with a wide $ 0.03 range between high and low.
• Resistance to $ 0.23 confirmed after failed breakout attempts.
• Support near $ 0.21 held several times during the last hour and shows signs of accumulation.
• Volume Topp of 1.25 Billion Around midnight – a near 3x increase in daily average.
• Price action narrowed to a tight $ 0.21- $ 0.21 ties After recovery, signaling potential basic formation.
Which dealers are looking at
• Whether DODE can maintain its foot over $ 0.21- $ 0.20 support area in upcoming sessions.
• Signs of follow -up accumulation from wallets that acquired during sale.
• Macroeconomic signals – including US inflation commentary and Asian equity risk mood – that could affect wider crypto appetite.
• Reaction to Dog’s admission to Bit Origin’s strategic allocation and potential future Ministry of Finance requires catalysts.
