Dogecoin fell 5% in the 24-hour period from August 28 at 1 p.m. 09:00 to 29 August at. 08:00 and tracks wider risk-active weakness.
Between 24 to 25 August, an unknown whale changed 900 million DOGE (~ $ 200 million) To binance drawing books, fuel for concern about distribution and triggers market volatility.
Open interest in Doge Futures slipped 8% after the influx, which reflects lighter speculative positioning.
Data on the chain shows that whales continue to build exposure, with 680 million DOGE accumulated in AugustSignaling of institutional demand despite retail sales.
Dogecoin’s Network Fundamentals remains firm, with HashRate climbing above 2.9 Petahashes per secondemphasizes mining on mining at record levels.
Summary of Price Action
DOGE dropped from $ 0.22 to $ 0.21 in the 24-hour trade window, a 5% decrease across a $ 0.011 (≈3%) range between $ 0.23 and $ 0.21.
The sharpest move took place at. 07: 24–08: 23 GMT on August 29, when DOGE dropped 0.57% from $ 0.22 to $ 0.21 on a 27.36 million volume tip at. 08:20.
Mid session streams of 626.3 million tokens coincided with $ 0.22 collapse and cemented $ 0.21 as immediate support.
Despite the pressure, the token consolidated almost $ 0.21 to session tightly, suggesting stabilization after heavy liquidation.
Technical analysis
Support: $ 0.21 applies as the primary floor; Violation risks expansion to $ 0.20.
Resistance: $ 0.23 remains the short -lived ceiling after repeated refusal.
Momentum: RSI hovers near the mid-40s and reflects neutral-to-bearing bias.
Macd: Bearish divergence persists without confirmed crossover yet.
Patterns: Tight $ 0.21– $ 0.23 consolidation suggests compression phase; Direction is related to the dissolution of whale currents.
Bind: Elevated 626.3 million over the course of $ 0.22 Cross -Cash Signals Continued Institutional Distribution.
Which dealers are looking at
Whether $ 0.21 Support can keep under ongoing whale sales.
Breakout over $ 0.23 could open the path against $ 0.25- $ 0.30.
Signs of renewed institutional accumulation when whales move supply to exchanges.
Futures open interest trends after the fall of 8%, a key signal for geared demand.
