Dogecoin failed to sustain above $0.26, triggering heavy institutional profit-taking that dragged price back toward $0.25.
Despite the short-term retreat, on-chain flows show large holders adding 30M tokens (approximately $8M), suggesting accumulation remains intact even as resistance caps upside momentum.
News Background
DOGE traded a 6% range between $0.24 and $0.26 in the 24 hours to Oct. 9. The token rallied into $0.26 during the afternoon session but met strong institutional selling pressure. Whale addresses added more than 30M DOGE, reinforcing longer-term positioning despite near-term weakness. Analysts highlighted parallels to prior historical cycles where key resistance breaks have unlocked exponential upside, with $0.41 flagged as a critical longer-term trigger.
Price Action Summary
- DOGE spiked from $0.25 to $0.26 around 17:00 on 750M turnover — double the daily average.
- Heavy profit-taking at $0.26 reversed gains, pulling price back to $0.25 by session close.
- Late trading saw a breakdown below $0.25 as liquidation flows hit, with a 14.6M surge at 02:01 confirming distribution.
- DOGE closed at $0.25, down ~2% from intraday highs.
Technical Analysis
Resistance is reinforced at $0.26 after repeated rejections on elevated volume. Support at $0.25 failed late in the session under liquidation flows, raising near-term downside risk. Still, accumulation patterns — with 30M DOGE added by large wallets — point to institutional confidence in the broader structure. A sustained reclaim of $0.26 would open the path toward $0.27–$0.30, while $0.24 is now the near-term floor to watch.
What Traders Are Watching?
- Whether DOGE can quickly regain $0.25 support after the liquidation flush.
- If whale accumulation continues to offset distribution at resistance.
- A clean break through $0.26 to reestablish upside momentum.
- Longer-term watch: $0.41 resistance, tied to historic breakout cycles.