Meme coin posts strong mid-session rally before profit-taking trims gains, with large-holder flows signaling sustained institutional interest.
Technical Analysis Overview
DOGE gains 5.6% in the 23-hour period ending August 13, climbing from $0.225 to $0.233 in an $0.0198 range (8.8% volatility).
Morning trade establishes $0.220 as firm support on volume above the 24-hour average of 387.7M. Price accelerates between 12:00-20:00, rallying from $0.221 to $0.238 on sustained bid-side demand before evening resistance caps upside.
The final hour sees a 1.3% drop from $0.235 to $0.232 as selling pressure builds. A breakdown at 02:00 sends price from $0.233 to $0.232 on 11M volume. Support reappears at $0.232 into the close, but rallies stall at $0.235.
News Background
Whale accumulation remained a key driver, with over 1B DOGE (valued at ~$200M) acquired in recent sessions. Large-holder ownership now approaches half the circulating supply, underscoring institutional confidence despite intraday volatility.
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Price Action Summary
• DOGE rallies 5.6% from $0.225 to $0.233 in August 12 03:00–August 13 02:00 window
• Mid-session surge from $0.221 to $0.238 sets session high before rejection
• Late-session 1.3% drop trims gains, with $0.232 acting as final support
• Whale accumulation tops 1B DOGE worth ~$200M
Technical Indicators Analysis
• Support: $0.220 (volume-backed morning defense), $0.232 (final-hour floor)
• Resistance: $0.238 (session high), $0.235 (late-session cap)
• 24-hour range: $0.0198 (8.8% volatility)
• Largest volume spike: 387.7M+ during support retests and 11M on final-hour breakdown
• Higher lows pattern intact despite pullback
What Traders Are Watching
• Retest of $0.238 resistance for breakout continuation
• Stability of $0.232-$0.220 support band on further profit-taking
• Persistence of whale accumulation flows in coming sessions
• Impact of broader market volatility on meme coin positioning
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