Dogecoin slipped overnight and erases gains despite heavy institutional accumulation when $ 782 million in trade volume overwhelmed support levels and sent the token in correction mode.
The move came along with wide crypto liquidations, reflecting increased macro prints.
News Background
• Dogecoin fell from $ 0.23 to $ 0.22 in a 24-hour window that ended August 19 at 1 p.m. 04:00, which marked a decrease of 4%.
• A sharp liquidation wave hit between 03: 00-04: 00, where volumes spiked to 782 million doge-nest twice the daily average.
• The fall occurred when the liquidations throughout the industry peaked $ 1 billion, triggered by US inflation sprints that beat expectations and panted bold rate-cut hopes.
• Despite the fall, institutional buyers have accumulated 2 billion doers worth approx. $ 500 million this week, bringing overall reported holdings to 27.6 billion.
Summary of Price Action
• DOGE traded within a $ 0.01 band, reflecting 5% intraday volatility.
• Overnight overnight the token crashed to test $ 0.22 support, now considered the central level to defend.
• A rebound attempt with late session raised prices modestly back against $ 0.22, and signaling demand for low.
• Resistance builds near $ 0.23, where profit shootings and heavy sales orders reappear.
Technical analysis
• Division from $ 0.23 invalidates the previous Bullish structure, where $ 0.22 appears as a new short -lived floor.
• Volume wave of 782 million DOGE validates the sale of capitulation – a potential precursor to bottom formation.
• Support: $ 0.22 (critical), followed by $ 0.21 if the pressure persists.
• Resistance: $ 0.23 (immediate), $ 0.25 (larger breakout threshold).
• Indicators suggest mixed signals: RSI is approaching oversold, but momentum remains negative.
Which dealers are looking at
• Whether institutional accumulation continues if $ 0.22 cracks – signaling of smart money transformation or retreat.
• WITHER MARKET RISEMOCONS: Equity weakness and macro winds remain the dominant driver.
• $ 1 billion+ in crypto -liquidations highlights fragility; Another macrostok could elaborate on the disadvantage.
• A recycling of $ 0.23 would be considered a short -term reversing trigger, otherwise $ 0.21 support test is likely.
