DOGE Gains 5.6% Amid $200M Whale Accumulation and Selloff
Meme coin experiences a mid-session rally followed by profit-taking, indicating sustained institutional interest.
Technical Analysis Overview
DOGE increased by 5.6% from $0.225 to $0.233 within 23 hours ending August 13, with an $0.0198 range (8.8% volatility). Key points include:
- Support established at $0.220 during morning trade.
- Price surged from $0.221 to $0.238 between 12:00-20:00 due to strong demand.
- A late-session drop of 1.3% occurred, falling from $0.235 to $0.232 as selling pressure built up.
- Final support was noted at $0.232 before closing.
News Background
Whale accumulation is significant, with over 1B DOGE (approximately ~$200M) acquired recently. Large holders now own nearly half the circulating supply, indicating institutional confidence despite volatility.
Price Action Summary
- DOGE rose 5.6% from $0.225 to $0.233 from August 12, 03:00 to August 13, 02:00.
- Mid-session surge reached $0.238 but faced resistance.
- Late-session drop reduced gains, with $0.232 serving as final support.
- Whale accumulation exceeded 1B DOGE valued at ~$200M.
Technical Indicators Analysis
- Support levels: $0.220 and $0.232.
- Resistance levels: $0.238 and $0.235.
- 24-hour price range showed $0.0198 volatility.
- Volume spike: 387.7M+ during support tests; 11M on breakdown.
- Pattern of higher lows remains intact despite pullback.
What Traders Are Watching
- Retest of $0.238 resistance for potential breakout.
- Stability of $0.232-$0.220 support during profit-taking.
- Continued whale accumulation flows in upcoming sessions.
- Broader market volatility's effect on meme coin positioning.