3 hours ago
Dogecoin rebounded sharply from $0.21 lows, closing astatine $0.22 aft a late-session surge successful measurement and assertive whale accumulation, adjacent arsenic information risks from Qubic’s onslaught menace linger.
News Background
- DOGE has faced unit this period aft reports tied to Qubic’s imaginable 51% onslaught spooked retail traders and drove selling.
- Despite those risks, on-chain information shows whale cohorts accumulated much than 680 cardinal DOGE successful August, offsetting retail outflows.
- Broader marketplace sentiment has been mixed, with Bitcoin and Ethereum consolidating adjacent highs, leaving memecoins trading with outsized volatility.
Price Action Summary
- DOGE precocious 5% successful the 24 hours ending Aug. 21, 04:00, recovering from an intraday bottommost of $0.21 to adjacent astatine $0.22.
- The token deed its league debased astir 13:00 UTC connected Aug. 20 earlier reversing people successful a V-shaped recovery.
- Trading measurement spiked to 9.29 cardinal successful the last hour, adding 0.45% successful the past agelong and confirming institutional-sized flows.
- Whales accumulated 680 cardinal DOGE done August, positioning contempt ongoing concerns astir Qubic’s imaginable 51% attack.
Technical Analysis
- Key enactment held astatine $0.21, tested astatine mid-session earlier high-volume reversal.
- Resistance emerged astatine $0.22, mounting a $0.01 trading scope for the session.
- A breakout was triggered astatine 04:31 UTC with the 9.29 cardinal measurement spike marking the league pivot.
- Sustained turnover astatine 6.8 cardinal per infinitesimal during the last hr points to larger buyers driving momentum.
What Traders Are Watching
- Whether $0.22 tin flip from absorption into support, opening way toward $0.23–$0.24.
- Continued whale positioning trends against the backdrop of Qubic information concerns.
- Strength of follow-through buying aft the late-session measurement burst, which volition corroborate if the V-shaped betterment has legs.
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