Dogecoin swung violently over the last 24 hours, with whales and institutional desks stepping in on heavy volumes near $0.234 support. The memecoin advanced 2% in the final hour to recover from steep intraday selling, though resistance at $0.244 remains firm. Price Action Summary • DOGE traded between $0.231 and $0.244 from September 8 at 04:00 to September 9 at 03:00, a 5.7% range. • Early momentum carried price to a $0.244 peak, but heavy profit-taking reversed gains by session close at $0.236. • Volumes spiked to 463.5M tokens during rejection at $0.244, showing strong institutional selling. • Late-session support emerged between $0.234–$0.237, with 687.9M tokens exchanged, suggesting accumulation. • Final hour recovery lifted DOGE from $0.234 to $0.237 (+1.3%) as volume averaged 6.2M per minute. Technical Analysis • Support: $0.234–$0.237 zone confirmed by heavy buying into late-session declines. • Resistance: $0.244 level rejected multiple times on large volume, capping upside momentum. • Short-term momentum: Higher lows during the last 20 minutes indicate fresh bullish bias. • Key signal: Break above $0.244 could target $0.250, while failure risks retest of $0.231 base. News Background • Futures data show heightened open interest in DOGE contracts as institutions hedge spot exposure. • Market participants anticipate U.S. regulatory progress on crypto ETFs, keeping DOGE in speculative flows. • Broader volatility stems from Fed policy expectations and global trade tensions impacting risk assets. What Traders Are Watching • Whether DOGE can sustain closes above $0.240 and flip $0.244 into support, opening path toward $0.250. • How Fed’s September 17 rate decision impacts risk appetite and liquidity conditions across crypto. • Whale wallet inflows, with institutional desks observed accumulating during late-session dips. • Progress on U.S. DOGE-related ETF filings and whether regulators signal clearer guidance on meme coin products.
