DOGE Rallies to $0.23 on Whale Accumulation, Stalls at Key Resistance
Dogecoin rose 4% to touch $0.23 in the past 24 hours, fueled by heavy whale accumulation and strong defense of the $0.22 support. However, the rally lost momentum as price met resistance, triggering a late-session pullback on increased selling pressure.
Whale Buying Drives Early Gains
Large-scale purchases of over 1 billion DOGE, worth around $200 million, drove early gains. The $0.22 support level held firm through multiple retests, attracting leveraged long positions and establishing a base for the upward move.
Profit-Taking at $0.23 Halts Momentum
Despite bullish momentum, DOGE struggled to maintain gains above $0.23. The level acted as a supply barrier, with volume peaking at 780.9 million DOGE during the 14:00 UTC hour as profit-taking set in. The resistance zone between $0.23 and $0.231 led to a slowdown in buying activity.
Late-Session Drop Highlights Exit Activity
In the final hour of trading, DOGE fell 1% from $0.23 to $0.227 amid a sharp volume spike. A sell print of 11.4 million DOGE at 03:34 UTC was followed by a 24.1 million volume surge, indicating potential institutional exits. Price consolidated in a tight $0.227–$0.229 range into the close.
Technical Snapshot
- 24H Performance: +4% | Range: $0.22–$0.23
- Support: $0.22 confirmed with 262.2M bid-side volume
- Resistance: $0.23, capped by 780.9M in peak volume
- Intraday Volatility: 5%
- Final-Hour Action: 8x average volume; signs of large-scale selling
- Ownership Shift: Whale accumulation pushes large-holder share near 50% of circulating supply
Outlook
DOGE remains in a defined range, supported at $0.22 but capped at $0.23. Accumulation by large holders suggests medium-term optimism, though resistance above current levels may require stronger market participation or a catalyst for continuation.
