What do you know
Doge marked one of the sharpest daily declines this month, falling 8% from $0.22 to $0.21 between 03:00 on July 31st and 02:00 on August 1st. Price Action was deployed within the $0.03 width. This is a high-volume resistance at the upper limit and resistance near the session, with a peak of $0.23 and a minimum of $0.20.
The final hours of the session, especially in the middle of the night, when trades surged to 1.25 billion, spiked sharply, with a 24-hour average of over 365 million people. The move suggests a stronger liquidation activity and could lead to cascade sales orders across leveraged positions.
News background
•Doge fell 8% in 24 hours as volume surged to 1.25 billion people during overnight trading.
• Despite early upside down attempts, $0.23 has been fixed, while $0.21 has emerged as short-term support.
• Facility wallets acquired 310 million Doges during revision and signaled accumulation during debilitating.
•BIT Origin has added 40 million Doges to the Treasury as part of its $500 million corporate diversification program.
•The broader crypto market is pressured by macroeconomic uncertainty, and ambiguity in inflation and rate paths clouds short-term sentiment.
Price Action Overview
Doge tested $0.23 on July 31st around 9:00-10:00, but was unable to maintain momentum. Sales accelerated into the afternoon and evening, with a maximum hourly drop just after midnight. The price reached a low of $0.20 and then stabilized at nearly $0.21, with repeated short-term support found.
In the final 60-minute session (08-02:07 on August 1st), Doge rebounded slightly from $0.21 to $0.21, recording a modest 1% gain. This movement is limited, but occurs at a relatively balanced volume, suggesting short-term stabilization. Resistance of $0.21 and refusal near the price range of strictures indicate the potential fatigue of immediate sales pressure.
Technical Analysis
• 8% decrease Width: $0.22 to $0.21 The $0.03 range Between high and low.
• $0.23 resistance Confirmed after a failed breakout attempt.
• Support near $0.21 It was held multiple times during the final hours, showing signs of accumulation.
• Volume peak is 1.25 billion Around midnight – an average daily increase of nearly three times.
Price action has been reduced tightly $0.21– $0.21 Band Signaling of potential base formation after recovery.
What traders see
•Whether Doge can maintain footies beyond the support range of $0.21-$0.20 in future sessions.
• Signs of follow-through accumulation from wallets acquired during sales.
• Macroeconomic signals including US inflation commentary and Asian equity risk sentiment could affect the broader crypto appetite.
•Reactions to Doge’s strategic allocation of Bit Origin and inclusion in potential future Treasury demand catalysts.
