DOGE Rejected at $0.26, Slides 2% as Profit-Taking Hits

3 hours ago

Dogecoin failed to prolong supra $0.26, triggering dense organization profit-taking that dragged terms backmost toward $0.25.

Despite the short-term retreat, on-chain flows amusement ample holders adding 30M tokens (approximately $8M), suggesting accumulation remains intact adjacent arsenic absorption caps upside momentum.

News Background

DOGE traded a 6% scope betwixt $0.24 and $0.26 successful the 24 hours to Oct. 9. The token rallied into $0.26 during the day league but met beardown organization selling pressure. Whale addresses added much than 30M DOGE, reinforcing longer-term positioning contempt near-term weakness. Analysts highlighted parallels to anterior humanities cycles wherever cardinal absorption breaks person unlocked exponential upside, with $0.41 flagged arsenic a captious longer-term trigger.

Price Action Summary

DOGE spiked from $0.25 to $0.26 astir 17:00 connected 750M turnover — treble the regular average.
Heavy profit-taking astatine $0.26 reversed gains, pulling terms backmost to $0.25 by league close.
Late trading saw a breakdown beneath $0.25 arsenic liquidation flows hit, with a 14.6M surge astatine 02:01 confirming distribution.
DOGE closed astatine $0.25, down ~2% from intraday highs.

Technical Analysis

Resistance is reinforced astatine $0.26 aft repeated rejections connected elevated volume. Support astatine $0.25 failed precocious successful the league nether liquidation flows, raising near-term downside risk. Still, accumulation patterns — with 30M DOGE added by ample wallets — constituent to organization assurance successful the broader structure. A sustained reclaim of $0.26 would unfastened the way toward $0.27–$0.30, portion $0.24 is present the near-term level to watch.