Dogecoin published a sharp decline in the trade session on July 23 to July 24, threw 11% from $ 0.26 to $ 0.24 in the middle of sustained institutional sales pressure and extreme volatility.
Trade volumes rose past 2.26 billion tokens during the sale of sales, marking one of the highest activity tips in recent weeks. Analysts quoted the wider crypto market’s fragility and profits from major holders as key grants for the move.
Despite a short rejection of the $ 0.23 level, DOGE failed to regain resistance to $ 0.25, closed near session low and raised the risk of continued downward pressure.
What to know
• DOGE dropped 11% from $ 0.26 to $ 0.24 during the 24-hour session, which ended July 24 at 1 p.m. 05:00 GMT
• Intradag area of $ 0.032 marked 12.06% volatility, driven by an intensive sales pressure
• Sales offices concentrated in the course of 13: 00–17: 00 GMT, as DOGE rejected $ 0.25 at 2.26b+ volume
• Final hour then 1.45% additional decrease from $ 0.24 to $ 0.24, which continues to confirm weakness
• Support temporarily formed to $ 0.23 but could not operate sustainable recovery
News Background
Market mood remains fragile across altcoins as macroeconomic concerns icing about global merchant tensions and Hawkish political tone surveillance of risk-off currents.
DOGE SO short Bullish Speculations after Bit Origin’s Treasury message earlier this month, but Momentum faded rapidly as institutional players began to relax.
Analysts notice technical fatigue and collapse of trendline support as triggers to the latest legs down.
Summary of Price Action
DOGE traded within a 12% intraday area from $ 0.26 to $ 0.24. Most of the draw took place between 13:00 and 17:00 GMT on July 23, with several rejection weights of $ 0.25 level accompanied by high sales quantities. A critical collapse followed in the final trade time between 04:48 and 05:47 gmt, as the token fell another 1.45% on a sharp volume of over 30 million tokens between 05: 04–05: 07.
Technical analysis
• According to Coindesk Research’s technical analysis model, $ 0.25 has been established as a fixed resistance after several rejection lights on large volume.
• Final Time showed steep rejection of $ 0.24- $ 0.24 range with elevated liquidation activity
• $ 0.23 is now the most important support for monitoring; Violation could extend the draw to $ 0.21
• Time RSI remains in oversold territory but lacks bullish divergence confirmation
• Volume profile suggests institutional led outputs rather than retail panic
Which dealers are looking at
Dealers are closely monitoring the behavior of the dog around the $ 0.23 level as a key pivot to a short -term direction.
A lack of attitude could open the disadvantage against $ 0.21, while recycling $ 0.25 on volume may indicate reversing potential. Volatility remains elevated and whale activity is expected to continue running intraday swings.
