Sharp 6.88% Drop Sends DOGE Toward 22-Cents Support on High-Volume Selloff

Generated by AI AgentCoin World
Tuesday, Aug 12, 2025 12:31 am ET1min read
DOGE
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Aime RobotAime Summary

- Dogecoin (DOGE) fell 6.88% to $0.22 amid high-volume selloff on August 11, driven by regulatory uncertainty and trade tensions.

- Sellers overwhelmed bid-side liquidity, with $0.238 as key resistance and $0.226 as support during volatile trading.

- Institutional profit-taking and macroeconomic risks pressured the price, with consolidation near $0.22 and uncertain recovery prospects.

Dogecoin (DOGE) experienced a sharp 6.88% decline over 24 hours, dropping from $0.24 to $0.22 amid a high-volume selloff on August 11. Sellers overwhelmed bid-side liquidity, particularly during the 07:00 hour session, when the price fell from $0.238 to $0.233 on a volume of 485.69M—31% above the daily average of 371.45M. This move solidified $0.238 as a key resistance level [1].

The selling pressure persisted, pushing the price below $0.23 and triggering retests of the $0.226 support zone. Buying interest emerged at $0.226 during the 11:00 session, with 793.38M in buy-side volume, but failed to sustain a rally beyond $0.231, which acted as a secondary cap. In the final hour of trading,

DOGE
remained range-bound between $0.2247 and $0.2253, with volume compression indicating potential exhaustion among sellers [1].

The decline coincided with broader weakness in the digital asset market, driven by regulatory uncertainty and global trade tensions. As major economies escalate tariff disputes and central banks signal potential policy shifts, institutional investors have been de-risking their crypto holdings. Whale and institutional profit-taking at the $0.238 level further contributed to the breakdown, forcing a retest of the $0.226 support line [1].

From a technical perspective, the price action highlighted a key support level at $0.22, where consolidation occurred. While buyers attempted to defend this area, repeated rejections near $0.231 kept the price range-bound. Volume patterns suggest potential base-building, though macroeconomic headwinds remain a risk, with further testing of the $0.22 level possible [1].

Traders are now closely monitoring whether buying flows will reappear at the $0.22 support. A successful breakout above $0.231 could be the first step in a recovery, but given the overhanging supply zone and thinning volume at session lows, the path to higher levels remains uncertain. Accumulation signs post-sell-off and the impact of macroeconomic headlines on meme coin sentiment are also under watch [1].

Source: [1] Sharp 7% Drop Sends DOGE Toward 22-Cents Support on High-Volume Selloff (https://www.coindesk.com/markets/2025/08/12/sharp-7-drop-sends-doge-toward-22-cents-support-on-high-volume-selloff)