4 hours ago
Meme token climbs to $0.24 highest with measurement astir doubling monthly averages, signaling organization enactment down the rally.
News Background
• The Federal Reserve signaled a softer stance connected crypto banking rules, portion Wyoming launched the archetypal state-backed stablecoin. Both developments lifted sentiment astir integer assets.
• Trump-linked entity Thumzup completed a $50 cardinal acquisition of Dogecoin mining steadfast Dogehash, forming what executives assertion is the largest DOGE mining operation.
• SoFi became the archetypal U.S. banking instauration to integrate Bitcoin’s Lightning Network for remittances, reinforcing broader organization adoption of crypto infrastructure.
• Whale wallets accumulated 680 cardinal DOGE tokens done August, cementing rising organization flows contempt retail-driven volatility.
Price Action Summary
• DOGE rallied 8% successful the Aug. 22–23 session, climbing from $0.22 to $0.24 successful a $0.02 range.
• The sharpest determination came astatine 14:00 GMT connected Aug. 22, erstwhile DOGE spiked from $0.21 to $0.23 connected 4.27B volume, astir quadruple the hourly average.
• Support present holds astatine $0.21 aft a palmy retest, portion absorption capped gains astatine the $0.24 intelligence level.
• A late-session surge added 1% from $0.23 to $0.24, with a measurement highest of 28.1M astatine 04:52 GMT confirming accumulation.
• Price enactment shows consecutive higher lows, suggesting sustained buying unit and imaginable inclination continuation.
Market Analysis
DOGE’s breakout aligns with a broader crypto rebound arsenic hazard appetite improved crossed equities and integer assets. The operation of Fed argumentation recalibration, state-level stablecoin adoption, and a high-profile mining acquisition amplified organization information successful a token often viewed arsenic purely retail-driven.
The $0.24 level remains a captious inflection point. A sustained breakout could unfastened momentum targets toward $0.26, portion nonaccomplishment risks renewed retests of $0.21 support.
Technical Indicators
• 24-hour summation of 8% from $0.22 to $0.24 with $0.02 trading range.
• Volume spiked 97% supra 30-day mean with 4.27B tokens traded.
• Support confirmed astatine $0.21 pursuing intraday retest.
• Resistance hardened astatine $0.24 intelligence threshold.
• Consecutive higher lows constituent to bullish structure.
• Volume surge of 28.1M astatine 04:52 GMT validates organization flows.
What Traders Are Watching
• Whether DOGE tin found $0.24 arsenic enactment for a cleanable breakout toward $0.26.
• Ongoing whale accumulation trends versus imaginable retail profit-taking astatine resistance.
• Impact of Wyoming’s state-backed stablecoin motorboat connected memecoin liquidity flows.
• Futures unfastened involvement absorption aft dense spot-driven rally.
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