Dogecoin News Today: Dogecoin Rises 5% on Whale Accumulation But Fails to Hold 20-Cents Resistance

Dogecoin (DOGE) surged nearly 5% over a 24-hour period from August 2 at 21:00 to August 3 at 20:00, reaching a peak of $0.200 before retreating to close at $0.198. The price rally was driven by consistent accumulation and activity from large holders, with key breakout levels observed at $0.194, $0.196, and $0.198. However, the token failed to maintain momentum above the $0.20 resistance level, reversing during the final hour of trading and suggesting a potential consolidation phase [1].

The price action reflected strong volume spikes during upward moves, with daily trading volumes surpassing 233 million tokens. Despite this, the late-session pullback from $0.200 to $0.198 occurred with declining momentum, indicating waning buyer enthusiasm [1]. Intraday volatility reached a peak between 19:08 and 20:07, during which the price retreated from $0.199 to $0.198, reinforcing the idea that sellers regained control near the $0.20 threshold [1].

The move aligns with a broader trend of increased speculation on high-volatility tokens, as major cryptocurrencies like bitcoin and ether remain range-bound. Meme coins such as DOGE have attracted both retail and institutional interest, with recent accumulation of 310 million DOGE tokens by large holders further supporting the bullish narrative, despite ongoing macroeconomic uncertainties [1].

From a technical perspective, the price found initial support at $0.189, and the rejection of $0.200 resistance signaled a short-term ceiling. Volume surges at key levels of $0.194 and $0.199 validated the strength of the rally. However, the reversal pattern that emerged after the failed $0.20 breakout suggests distribution pressure in the final 30 minutes of trading [1].

Traders are closely monitoring the $0.189 to $0.213 range for further clues on DOGE's trajectory. A successful retest of the $0.20 level could push the price toward $0.206–$0.212. Conversely, a breakdown below $0.189 might lead to a pullback toward $0.14–$0.12. Meanwhile, volume trends and whale activity remain key indicators for near-term direction [1].

Source:

[1] DOGE Rally Stalls at 20-Cents, But Large Holder Activity Flashes Bullish Signs

https://www.coindesk.com/markets/2025/08/04/doge-rally-stalls-at-20-cents-but-large-holder-activity-flashes-bullish-signs