DOGE Falls 9.24% Amid Institutional Sell Pressure and Market Uncertainty
Key Points
- DOGE decreased by 9.24% from $0.248 to $0.226 within 24 hours, with a price range of $0.025 (10.39%).
- A recovery occurred toward the session's end, bringing DOGE from $0.223 to $0.226.
- Institutional sell pressure peaked between 13:00–14:00, with volume at 918 million, over double the average of 410 million.
Market Context
The decline in DOGE reflects a broader risk-off sentiment in crypto as central banks reconsider rate cuts due to persistent inflation. Geopolitical tensions and trade uncertainty are affecting institutional trading appetite.
Price Action Overview
- DOGE opened at $0.240, reaching $0.248 by 05:00 before falling below $0.230 during the selloff.
- Final-hour trading saw a dip to $0.223, followed by a recovery to $0.226.
- Accumulation was noted at $0.223–$0.225, indicating potential institutional interest.
Technical Analysis
- Price fluctuated between $0.248 high and $0.223 low.
- Resistance is at the $0.240–$0.241 zone; multiple rejections observed.
- Support tested at $0.223 on 553M volume, holding at close.
- A rebound pattern suggests a possible short-term floor following heavy selling.
- Overall momentum is bearish but shows signs of bottoming as sell volume decreases.
Trader Insights
- A break above $0.241 is necessary for a trend reversal confirmation.
- If support at $0.223 fails, DOGE may drop toward $0.215–$0.218.
- Upcoming U.S. inflation data and FOMC comments could influence market movements.
- Caution persists among traders amid ongoing macroeconomic uncertainty and reduced interest in meme assets.