Dogecoin Drops 7% After Institutional Selloff Hits Record Volumes

Dogecoin experienced a notable selloff, dropping from $0.27 to $0.25 between September 21–22 as institutional traders sold off over 2.15 billion tokens, surpassing the average volume of 344.8 million. This decline tested support levels and created new resistance areas, leaving DOGE stabilizing around $0.25.

Key Points

DOGE decreased by 7% within 24 hours, settling at $0.25.
Midnight trading saw a sharp dip from $0.26 to $0.25.
Analysts noted a "1-2 pattern," which historically leads to breakouts above $0.28-$0.30.

Price Action Summary

The range was $0.02 (≈8%), with highs at $0.27 and lows at $0.25.
Resistance is solidified near $0.27 after multiple rejections.
Institutional support formed around $0.25, with recovery attempts keeping DOGE above this level.
In the final hour, DOGE fluctuated narrowly at $0.25, indicating accumulation patterns.

Technical Analysis

Record trading volumes confirm significant institutional involvement.
Support is confirmed at $0.25; failure here may lead to a drop toward $0.23.
Key resistance remains at $0.27, with potential tests at $0.28-$0.30 if buying resumes.
Volume spikes during recovery suggest possible bottoming interest.
The "1-2 setup" pattern aligns with past rally structures.

What Traders Are Watching

The durability of the $0.25 support amid heavy liquidation flows.
Institutional moves around the $0.28-$0.30 resistance if recovery strengthens.
Upcoming session volumes to determine whether accumulation or distribution prevails.
Impact on broader sentiment from ETF delays and regulatory uncertainties.