Dogecoin Plunges 8% Then Skyrockets—V-Shaped Recovery Fuels Bullish Frenzy

Dogecoin just gave traders whiplash—and bulls are loving it.

The meme coin nosedived 8% in a flash crash before staging a dramatic V-shaped recovery. Textbook bullish reversal or just another crypto rollercoaster? Either way, chartists are circling like sharks.

When life gives you dips... Apparently, the market decided to make margaritas. Never mind that 90% of 'technical analysis' is just horoscopes for finance bros—this bounce could signal real momentum.

One thing's certain: in crypto, even the crashes come with seatbelts... and rocket boosters.

News Background

• Global economic pressures — from escalating trade disputes to hawkish central bank stances — have weighed heavily on crypto markets.
• DOGE, often viewed as a bellwether for retail sentiment, bore the brunt of risk-off flows. But despite the volatility, network activity has remained stable, and on-chain data shows signs of accumulation.
• Analysts point to the $0.151 level as a crucial support zone following the 8% plunge.
• Central banks continue to signal concern over inflation, and with crypto markets reacting sharply to macro headlines,
• DOGE’s ability to recover from its lows may attract short-term traders looking for signs of a rebound.

Price Action

DOGE dropped sharply from $0.164 to $0.151 during the 21:00 hour on June 21, with volume exploding to 828M—the highest hourly tally in over a week. This marked a clear capitulation point, followed by a modest recovery as buyers stepped in.

Price has since rebounded to the $0.157 level, forming a short-term consolidation zone. In the most recent session, Doge printed a series of higher lows, including a small breakout attempt at 06:57 when volume spiked to nearly 8M units. Immediate resistance now sits at $0.157–$0.160, while support remains firm at $0.151.

Technical Analysis Recap

• DOGE posted a 7.9% range over 24 hours, falling from $0.164 to $0.151.
• Capitulation event at 21:00 drew 828M in volume, confirming $0.151 as major support.
• Price rebounded to $0.157, where it’s now consolidating on declining volatility.
• Higher lows suggest early accumulation pattern forming.
• Resistance zone sits at $0.157–$0.160; bulls need a close above $0.160 for breakout confirmation.
• Support at $0.151 backed by extreme volume and V-shaped bounce.
• MACD turning positive; RSI neutral at ~48, signaling room for upside if momentum builds.