Dogecoin (DODE) recovered after an intradag -low -low -lavlav of $ 0.164 to close near $ 0.171, sending a 4.7% rejection in line with a wider market weakness. The move suggests that institutional buyers can accumulate at lower levels as market participants support continued volatility.
News Background
- Dogecoin’s rebound comes in the wake of intensive sales pressure caused by escalating geopolitical tensions between Israel and Iran. The sharp market -covering correction that triggered mass -airing pushed briefly DOGE down more than 7% intraday on Wednesday.
- Meanwhile, macroeconomic headwinds persist. The American Federal Reserve continues to maintain the restrictive monetary policy and keep the rates of 4.25% –4.50%, while actively reducing its balance – a dynamic that has historically weighed on more risky efforts such as DOGE.
- Memecoin is still one of the most liquid assets in the crypto area, with daily revenue near $ 1.37 billion and market hood holding over $ 24.7 billion.
- Elsewhere, technical indicators show that DOGE that goes into oversold territory, and data on social emotions from Lunarcrush reveals an 86% positive tone across 16,000+ mentions, which suggests continued social transformation even in the midst of pricing volatility.
Dog’s prospects in the short term may be related to legislative developments, including a potential American spot-ETF decision, as well as continued adoption on defi-platforms such as Coinbas’s basic network, where wrapped doge wins traction.
Price action
DOGE saw its sharpest decline in 13:00 hours and fall to $ 0.164 on a 591 m volume – the highest of the day.
The strong jump that followed pushed the prices back over $ 0.171, with the Memecoin found equilibrium in the short term.
Price action has since consolidated in a tight band between $ 0.170 and $ 0.1696, with small volume of bursts that suggest accumulation at lower levels.
Technical Analysis Suggestion
- DOGE Posted a recovery of 4.7% and rose from $ 0.164 to $ 0.171.
- Larger liquidation -driven outlets occurred at. 13:00 with volume that peaked at 591 m units.
- Volume -based support established at $ 0.164; The resistance remains firm near $ 0.172.
- The latest candles show signs of accumulation, especially during 02:00-02: 02 period (3.4 m volume).
- RSI of 33.29 suggests that DOGE may be approaching oversold territory.
- The price is consolidated just over short -term support of $ 0.1696.
- If DOGE breaks over $ 0.1750, the next resistance zone is $ 0.1820; Failure to do this can trigger a gene test of $ 0.1640 or even $ 0.150 in a risk-off environment.
- Technical patterns point to a falling triangle – typically a bearish signal – but reduced volatility suggests stabilization.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by Coindesk’s editorial team for accuracy and compliance with our standards. For more information, see Coindesk’s full AI policy.
