DOGECOIN has been bouncing strongly from $ 0.21 lows, which closes $ 0.22 after a late session of promotion of volume and aggressive whale accumulation, despite security risks from the Quubic attack.
News background
- The Doge is facing pressure this month after reports tied to a potential 51% of the Qubic attack that has been spying towards retail businessmen and pushed for sale.
- Despite those risks, on-chain data shows whale cohorts that accumulated more than 680 million dogs in August, offsetting retail flows.
- The broader sentiment in the market is mixed -halong, along with Bitcoin and Ethereum integration near the highs, leaving memecoins trading with outsized volatility.
Summary of price action
- The Doge progressed at 5% to 24 hours ending August 21, 04:00, recovering from an bottom of the intraday of $ 0.21 to close to $ 0.22.
- The token struck its session low around 13:00 UTC on August 20 before the course was reversed with a recovery -shaped V.
- Trade volume has emerged at 9.29 million in the final time, adding 0.45% to the last stretch and confirm the institutional flows.
- Whales accumulated 680 million dogs to August, positioning despite ongoing concerns around the potential 51% of the Qubic attack.
Technical analysis
- The main support held at $ 0.21, tested in the middle of the session before the high-rate volume.
- The resistance appeared at $ 0.22, which sets a $ 0.01 trading range for the session.
- A breakout is that it has been at 04:31 UTC with a 9.29 million volume of spike marking a session pivot.
- The prolonged shift to 6.8 million per minute at the last time points to the larger consumer driving momentum.
What do entrepreneurs watch
- If $ 0.22 can be flipped from resistance to support, opening the path to $ 0.23- $ 0.24.
- Continued trends in positioning whale against the back of quubic security concerns.
- Strength of follow-through purchase after a late-session volume explosion, confirming whether the V-shaped recovery has legs.
