Whale-led accumulation dominated early and mid-session flows, with over $200 million in DOGE purchased over 24 hours. The $0.22 level held firmly on multiple retests, drawing in leveraged long positioning. However, the $0.23 resistance zone triggered profit-taking from short-term traders and potential distribution from large holders. 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
