“The meme token slides from $ 0.22 to $ 0.21 in the august 28–29 Window, with $ 200 Million in Exchange Inflows Adding Pressure Amid Broader Market Caution.”, – WRITE: www.coindesk.com
The meme token slides from $ 0.22 to $ 0.21 in the august 28–29 Window, with $ 200 Million in Exchange Inflows Adding Pressure Amid Broader Market Caution.Updated Aug 29, 2025, 2:27 PM PUBLISHED AUG 29, 2025, 2:27 PM
(Coindesk Data)
What to Know:
- A WHALE Transferred 900 Million Doge to Binance, Raising Concerns About Potential Distribution by Long-Term Holders.
- Doge’s Price Fell 5% in A 24-Hur Period, with Institutional Selling Evident as Support at $ 0.22 Was Breached.
- Traders Are Closely Watching the $ 0.21 Support Level, With A Break Potentally Exposing $ 0.20.
News Background
- Between August 24–25, A Whale Shifted 900 Million Doge (Wrth Over $ 200 Million) To Binance, Sparking Fears of Distribution from Long-Term Holders.
- Corporate Treasuries and Institutional Funds Have Reduced Meme-Coin Exposure As Regulatory Uncertainty and Global Macro Headwinds Mount.
- Network Security Strength Remains Elevated, With Dogecoin’s Hashrate Topping 2.9 Petahashes per Second, Reflection Robust Mining Participation Despite Price Volatility.
- Broader Crypto Markets Remain Supported by Expectations of Fed Policy Easy, But Doge Continues to Lag Majors Like BTC and ETH.
Price Action Summary
- Doge Fell 5% Durying The 24-Hour SESSION FROM AUGUST 28 AT 09:00 TO AUGUST 29 AT 08:00, Sliding from $ 0.22 to $ 0.21.
- The Token Traded Within A Narrow $ 0.011 Range, Marked by a High At $ 0.23 and A Low At $ 0.21.
- Institutional Selling Was Evident, with 626.3 Million Tokens Transacted During Morning Trade As $ 0.22 Support Gave Way.
- The Sharpest Move Came in the 07: 24–08: 23 GMT Hour on August 29, WHEN DOGE DROPED 0.57% from $ 0.22 to $ 0.21 on A 27.36 Million Spike in Volume.
Technical Analysis
- Support: Initial Stability AROUND $ 0.22 WAS LOST; $ 0.21 NOW Services As the Immediate Floor.
- Resistance: $ 0.23 Remains the Near-Term Cap, Repeatedly Rejecting Rallies.
- Momentum: RSI Hovers Near Mid-40s, Showing Neutral-To-Bearish Bias with Limited Upside Strength.
- Volume: Daily Turnover Exceeded 280.5 Million Tokens; Institutional Flows Were Concentrated Durying Peak Selling Phases.
- Indicators: Macd lines are divering bearishly, Suggesting Further Downside Risk Unless Price Reclaims $ 0.22.
- Pattern: TIGHT $ 0.21– $ 0.23 Corridor Signals Consolidation, But Repeated Lower Highs Point to A Potential Continion Lower.
What Traders Are Watching
- $ 0.21 as the Critical Support – A Break Risks Exposing $ 0.20.
- A Push Through $ 0.23 Could Reframe Near-Term Momentum and Open the Path Town $ 0.25– $ 0.30.
- MONITORING WHALE Exchange Inflows After The $ 200 Million Transfer to Binance.
- Futures Open Interest Trends, Down 8% Earlier this Week, AS A GAUGE OF SPECULATIVE CONVICATION.
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