Dogecoin fell sharply during overnight trading, sliding from $0.27 to $0.25 as institutional traders offloaded positions on record volume of 2.15 billion tokens, dwarfing the 24-hour average of 344.8 million.
The midnight selloff broke through support levels and established new resistance zones, leaving DOGE consolidating around $0.25 as traders watch for signs of recovery or further decline.
Market Context
- Over the 24-hour period, DOGE fell 7%, retreating from $0.27 to $0.25.
- The most intense trading occurred overnight, with a drop from $0.26 to $0.25 on record volume.
- Analysts highlighted a “1-2 pattern” formation, historically signaling potential breakouts toward $0.28–$0.30.
Price Action Summary
- DOGE’s intraday range spanned $0.02 (≈8%), between a high of $0.27 and a low of $0.25.
- Resistance solidified near $0.27 after repeated rejections.
- Institutional support appeared around $0.25, keeping DOGE above this level during recovery attempts.
- In the final hour (01:14–02:13), DOGE traded in a narrow $0.25–$0.25 channel, showing early accumulation with volume spikes at 01:25 and 02:03.
Technical Analysis
- Record 2.15B tokens traded overnight confirm significant institutional activity.
- Support at $0.25 is crucial; a breach could extend the decline toward $0.23.
- Resistance sits at $0.27, with upside potential at $0.28–$0.30 if buying resumes.
- Volume spikes during recovery attempts indicate potential bottoming interest.
- Technicians note the recurring “1-2 pattern”, consistent with prior DOGE rally structures.
Traders’ Focus
- Can $0.25 hold as strong support after record liquidation flows?
- Will institutional positioning near $0.28–$0.30 trigger a breakout if buying resumes?
- Follow-through volume in upcoming sessions to confirm whether accumulation or further distribution dominates.
- Broader sentiment influenced by ETF delays and ongoing regulatory uncertainty.
