Dogecoin Rebounds From $0.21 Lows as Whales Step In Despite Qubic Attack Fears
Dogecoin (DOGE) posted a sharp rebound Tuesday, recovering from intraday lows of $0.21 to close at $0.22 after a burst of late-session buying activity. The move came amid elevated market anxiety tied to Qubic’s potential 51% attack threat, yet whale accumulation signaled renewed confidence in the memecoin.
Market Context
DOGE has faced persistent pressure throughout August as concerns over a potential 51% attack from Qubic spooked retail investors and triggered notable selling. Despite those headwinds, blockchain data shows that whales accumulated over 680 million DOGE during the month — a trend that helped neutralize broader outflows.
While Bitcoin and Ethereum remain in consolidation near their recent highs, memecoins like DOGE have been subject to outsized volatility, reflecting their sensitivity to both sentiment shifts and headline risks.
Price Action Highlights
- DOGE rallied 5% in the 24 hours ending at 04:00 UTC on August 21.
- After dipping to a session low of $0.21 around 13:00 UTC on August 20, the token staged a V-shaped recovery.
- It closed at $0.22, with momentum building in the final hour.
- Trading volume surged to 9.29 million DOGE in that final stretch, adding 0.45% just before the daily close.
Technical Overview
- Key support at $0.21 was tested midday and held.
- Resistance emerged at $0.22, creating a narrow $0.01 trading range.
- A breakout occurred at 04:31 UTC, catalyzed by the volume spike.
- Sustained turnover during the last hour reached 6.8 million DOGE per minute, signaling the presence of larger buyers.
What Traders Are Watching
- Whether $0.22 can flip to support, potentially setting the stage for an advance toward $0.23–$0.24.
- How whale wallets continue to position in the face of unresolved Qubic-related security risks.
- Whether the late-session rally sees sustained follow-through, confirming the strength of the V-shaped recovery.
Despite elevated uncertainty, Tuesday’s price action highlighted the role of whale flows in supporting DOGE at key levels. With technical structure firming up and large holders accumulating, traders now look to see if the move has enough conviction to extend higher.
