Dogecoin DODE, the popular meme cryptocurrency, endured a tough night when it threw over 10% in a sudden sale rattling the markets.
The droplet – from $ 0.226 to $ 0.202 – occurred around midnight, coinciding with an increase in trade volume to 1.18 billion, highlighting a crib among the traders who responded to wider marketing.
While DOGE managed a modest jump from its low, it remains firm in a consolidation pattern between $ 0.202 and $ 0.206. This suggests that the market takes a breath after the initial shock, but dealers remain cautious, with volatility that is deterred and no crucial direction emerges.
Technical Analysis shows DOGE testing of multiple support levels under the crash before establishing a key resistance to $ 0.217. A potential double -bound pattern can be formed, giving some hope to bulls looking at a breakout against $ 0.25 if DOGE can gather enough momentum to push past this resistance.
Open interest rates for DOGE derivatives rose 2.89% to $ 2.71 billion, indicating that dealers are placing for the next big move. Whether this movement is up or down is still an open question as mixed mood prevails over the market.
Technical analysis
- DOGE dropped from $ 0.226 to $ 0.202, a sharp fall of 10.6%.
- The most intense sale came at midnight (00:00) with a 5.5% jump on unique volume.
- Key resistance is formed at $ 0.217 with broken support levels below.
- Consolidation between $ 0.202 and $ 0.206 Signals Marketing.
- A short recovery between 09:43 and 09:56 saw DODE back to $ 0.205, but on low volume.
- Open interest growth points to dealers that stiffen for a potential volatility.
When the dust settles, both dealers and investors will keep an eye on signs of a sustained rebound – or a deeper decline – in the coming hours.
