🚀 DOGE Soars to 23¢ as Whales Pile In—But Can It Smash Through Supply Wall?

Dogecoin's latest pump hits a make-or-break moment.

Whale activity sends DOGE rocketing to 23 cents—only to face stiff resistance at a key supply zone. The memecoin's fate now hinges on whether buyers can bulldoze through the sell-side barrier.

Technical hurdles aside, the rally proves crypto's favorite joke still packs punches. Though let's be real—no chart pattern can compete with Elon's tweet finger.

Technical Analysis Overview

DOGE rises 4% in the 24-hour period ending August 9, climbing from $0.22 to $0.23 between August 8 04:00 and August 9 03:00. The MOVE spans a $0.01 range, marking 5% volatility.
Support holds at $0.22 during the 05:00 session on strong bid-side volume of 262.2 million. Resistance emerges at $0.23 in the 14:00 hour as selling pressure accelerates, with volume peaking at 780.9 million. Supply zone above $0.23 caps upside momentum.

Late-session trade sees a sharp 1% drop from $0.23 to $0.227 between 02:39 and 03:38. Breakdown occurs at 03:34 on 11.4 million volume, followed by a 24.1 million spike at 03:35. Price consolidates in a tight $0.227-$0.229 band into the close.

Price Action Summary

• Doge rallies 4% from $0.22 to $0.23 during August 8 04:00–August 9 03:00 session, confirming $0.22 support
• Sharp 1% pullback in final 60 minutes as institutional selling pressure hits, dropping price to $0.227
• Whale accumulation tops 1 billion DOGE worth $200 million, lifting large-holder ownership close to half of circulating supply

Technical Indicators Analysis

• $0.22 confirmed as key support with volume-backed defense in early session
• $0.23 resistance reinforced by heavy supply and 780.9 million volume peak
• Late-session breakdown triggered on 11.4M followed by 24.1M volume spike
• Final hour records 8x average volume, signaling institutional exit flows
• Whale accumulation at 1 billion DOGE marks significant ownership concentration

What Traders Are Watching

• Whether $0.22 support holds on the next test amid continued whale activity
• Breakout potential above $0.23 if supply zone clears
• Signs of sustained large-holder accumulation versus distribution patterns
• Broader meme coin sentiment as a momentum driver