DOGE Suffers 50% Flash Crash Before Stabilizing Near $0.19
Dogecoin experienced a 50% flash crash on Oct 10, dropping from $0.22 to $0.11 before recovering to the $0.19–$0.20 range.
- The crash occurred at 21:00 UTC with DOGE falling sharply due to increased volatility and trading volume reaching 4.6 billion tokens compared to a daily average of 1.5 billion.
- The U.S. administration's announcement of a 100% tariff on Chinese imports triggered a broader crypto market selloff.
- Whales began re-accumulating DOGE during late-session trading, with exchange outflows exceeding $23 million and 2 billion DOGE added to corporate wallets.
- 21Shares launched an institutional DOGE ETF (TDOG), providing regulated exposure to the asset.
Technical Analysis:
- Support formed at $0.19–$0.20 as institutional flows absorbed panic selling.
- Resistance levels are identified at $0.22 with further targets at $0.25 and $0.30.
- The trading volume peaked at 4.6 billion against a 30-day average of 2.0 billion.
- A double-bottom pattern near $0.19 suggests an accumulation zone.
- Oversold RSI and expanding Bollinger bands indicate potential short-term mean reversion.
Key Considerations for Traders:
- Monitoring if $0.19 will hold as a support level or lead to further liquidation.
- Assessing whether ETF flows and institutional accumulation can counteract macro risks.
- Observing whale activity, with ≈2 billion DOGE added—whether it signals value buying or an exit liquidity trap.
- Evaluating post-tariff volatility to determine if DOGE will return to the $0.25–$0.30 range or stay below $0.20.
- Looking for confirmation of triangle rebuild above $0.22 to invalidate bearish trends.