Dogecoin rebound sharply from $ 0.21 low and closed at $ 0.22 after an increase in the session in volume and aggressive whale accumulation, even when security risks from Qubic’s attack threat dwell.
News Background
- DOGE has been subjected to pressure this month after reports tied to Qubic’s potential attacks from 51% attack that they have retailers and were running sales.
- Despite these risks, data on the chain whale cowhorts shows more than 680 million DOGE in August and equalized retail outflows.
- The wider market mood has been mixed, with Bitcoin and Ethereum, which consolidates near heights, leaving Memecoins trade with high volatility.
Summary of Price Action
- DOGE advanced 5% over the course of 24 hours ending August 21, 04:00, and recovered after an intraday bottom of $ 0.21 to close at $ 0.22.
- Token hit his session low around 13:00 on August 20, before turning the course in a V-shaped recovery.
- Trade volume spiked at 9.29 million in the last hour, added 0.45% in the last stretch and confirms institutional size streams.
- Whales accumulated 680 million doge through August and, despite continuous concerns about Qubic’s potential attacks of 51%.
Technical analysis
- Key support held at $ 0.21, tested by mid-session before turning with high volume.
- Resistance emerged at $ 0.22 and set a trading area of $ 0.01 to the session.
- A breakout was released at 1 p.m. 04:31 UTC with 9.29 million volume tip that marked the session Pivot.
- Sustained revenue to 6.8 million per year. Minute during the last hour points to larger buyers running momentum.
Which dealers are looking at
- Whether $ 0.22 can turn from resistance to support, the path opens against $ 0.23- $ 0.24.
- Continued puppet position trends based on Qubic security concerns.
- The strength of follow-up purchases after volume in the late session, which will confirm whether the V-shaped recovery has legs.
