“Doge’s Price Action Shows Potential for Further Gains, with Support at $ 0.21 and Resistance at $ 0.24.”, – WRITE: www.coindesk.com
(Coindesk Data)
- Meme token Surged to $ 0.24 with Trading Volume Nearly Doubling, Indicating Institutional Interest.
- The Federal Reserve’s Softer Crypto Stance and Wyoming’s Stablecoin Launch Boosted Digital Asset Sentiment.
- Doge’s Price Action Shows Potential for Further Gains, with Support at $ 0.21 and Resistance at $ 0.24.
News Background• The Federal Reserve Signrated A Softer Stance on Crypto Banking Rules, While Wyoming Launched the FIRST STATE-Backed Stablecoin. Both Developments Lifted Sentiment ARound Digital Assets.
• Trump-linked entity thumzup compleed a $ 50 Million Acquisition of Dogecoin Mining Firm Dogehash, Forming What Executives Claim Is The Largest Doge Mining Operation.
• Sofi Became The FIRST US BANKING INSTITUTION TO INTEGRATE BITCOIN’S LIGHTNING NETWORK for REMITTANCES, REINFORCING BROADER INSTITATION ADOPTION OF CRYPTO INFRASTRACTURURE.
• Whale Wallets Acumulated 680 Million Doge tokens Through August, Cementing Rising Institutional Flows Despite Retail-Driven Volatty.
Price Action Summary• Doge rallied 8% in the aug. 22–23 Session, Climbing from $ 0.22 to $ 0.24 in A $ 0.02 Range.
• The Sharpest Move Came at 14:00 GMT on Aug. 22, WHEN DOGE SPIKED FROM $ 0.21 to $ 0.23 On 4.27b Volume, Nearly Quadruple The Hourly Average.
• Support Now Holds at $ 0.21 After A Successful Retest, While Resistance Capped Gains at the $ 0.24 Psychological Level.
• A Late-Session Surge Added 1% from $ 0.23 to $ 0.24, with a volume Peak of 28.1m at 04:52 GMT Confirming Acuality.
• Price Action Shows Consecutive Higher Lows, Suggesting Sustaned Buying Pressure and Potential Trend Continuation.
Market AnalysisDoge’s Breakout Aligns with A Broader Crypto Rebound As Risk Appetite Improved Accross Equities and Digital Assets. The Combination of Fed Policy Recalibration, State-Level Stablecoin Adoptation, and A High-Profile Mining Accuisation Amplified Institutional Participation in a Token of Viewed As Pured-Dot.
The $ 0.24 Level Remains A Critical Inflection Point. A Sustaned Breakout Could Open Momentum Targets Toward $ 0.26, While Failure Risks Renewed Rettes of $ 0.21 Support.
Technical Indicators• 24-Hur Gain of 8% from $ 0.22 to $ 0.24 with $ 0.02 Trading Range.
• Volume Spiked 97% Above 30-Day AVERAGE WITH 4.27B TKENS TRADED.
• Support ConfirMed AT $ 0.21 Following Intrady Rtest.
• Resistance Harded at $ 0.24 Psychologic Threshold.
• Consuctive Higher Lows Point to Bullish Structure.
• Volume Surge of 28.1m AT 04:52 GMT Validates Institutional Flows.
What Traders Are Watching• WHERE DOGE CAN ESTABLISH $ 0.24 As Support for a Clean Breakout Town $ 0.26.
• Ongoing WHALE ACCUMULATION TRENDS Versus Potential Retail Profit-Taking at Resistance.
• Impact of Wyoming’s State-Backed Stablecoin Launch on Memecoin Liquidity Flows.
• Futures Open Interest Reaction After Heavy Spot-Driven Rally.
Shaurya Holds Over $ 1,000 in Btc, Eth, Sol, Avax, Sushi, Crv, Near, YFI, YFI, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, CAKE, Vet, Vet, Vet RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, Banana, Rome, Burger, Spirit, and ORCA.
He Provides Over $ 1,000 to Liquidity Pools on Compound, Curve, Sushiswap, Pancakeswap, Burgerswap, Orca, AnaSwap, Spiritswap, Roki Protocol, Yearn Finance Olympusdao, Rome, Trader Joe, and Sun.
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