“Security Fears Colled with Broad Crypto Weakness, Pushing Doge Into Heavy Sell Pressure Despite Continued Whale Accuumulation.”, – WRITE: www.coindesk.com
(Coindesk Data)
- Dogecoin’s Price Fell Sharply After The Qubic Blockchain Community Voted to Target It for A Potential 51% Attack.
- Despite Security Concerns, Large Holders Accuumulated 680 Million Doge in August, Indicating Long-Term Interest.
- Doge Futures Open Interest Declined by 8%, Reflection Reduced Confidentnce in Short-Term Gains.
News Background• Qubic’s Governance Forum Approved a proposal to Direct Hashpower Town Dogecoin, Raising The Possibility of A Coordinated 51% Attack. The Group Recently Execurated A Similar MOVE AGAINST MONEERO, SUCCESSFully Disruping Block Validation.
• The News Fueled Jitters Across The Dogecoin Community, With Traders Prting in Heightned Security Risks.
• at the Same Time, WHALES ACCUMUrated 680 Million Doge in August, Showing Long-Term Interest Despite The Threat.
• Derivatives Positioning Weaned, with Doge Futures Open Interest Sliding 8%, Signaling Deckling Confidentnce in Near-Term Upside.
Price Action Summary• Doge Droped 5% in the 24-Hour Period from August 19 06:00 to August 20 05:00, Falling from $ 0.22 to $ 0.21.
• The Heaviest Selling Occurred Between 13: 00-15: 00 UTC on August 19, WHEN DOGE CRASHED FROM $ 0.22 to $ 0.21 AMID 916 Million Tokens Traded-Double The 24-Hour.
• $ 0.22 Emerged as A Strong Resistance Zone After Repeated Reports, While $ 0.21 Acted As a Key Support Level Into The Close.
• overnight action was Range-Bound, with Doge Oscillating Between $ 0.2120- $ 0.2130 Before Closing AT $ 0.2124.
Technical Analysis• Resistance: $ 0.22 ConfirMed as Heavy Supply Zone with High-Volume Reject.
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• Volume: 916 Million Traded, Up 100% Over Baseline, Reflection Panic Selling.
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• Futures: Open Interest Fell 8%, Suggesting Leverage Longs Are Unwinding.
What Traders Are Watching• WHETHER QUBIC FOLLOWS THROUGH ON ITS DOGE ATTACK PLAN AFTER MONEERO Disruption.
• WHALE ACCUMULATION Versus Retail Capitulation – Will Large Players Defend $ 0.21 Support?
• Market Reaction to Continued Declines in Derivatives Open Interest.
• A Decisive Move Above $ 0.22 or Below $ 0.21 to Set Next Directional Bias.
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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