Dogecoin Slides to $0.22 Support Amid $782M Volume Surge
Dogecoin (DOGE) fell 4% overnight, dropping from $0.23 to test the critical $0.22 support level as a $782 million surge in trading volume triggered a stop-loss cascade. This sell-off was part of a broader $1 billion crypto liquidation wave spurred by stronger-than-expected U.S. inflation data, which dented Fed rate-cut hopes. Despite the downturn, institutional investors added roughly 2 billion DOGE (about $500 million) this week, bringing total reported holdings to 27.6 billion tokens. Technical indicators highlight immediate resistance at $0.23 and a major breakout threshold at $0.25. Traders are watching whether continued institutional accumulation can stabilize DOGE or if a break below $0.22 will push the price toward $0.21.
Bearish
Dogecoin’s sharp 4% drop amid a $782 million volume spike and broader $1 billion liquidation wave reflects strong selling pressure and risk-off market sentiment. The breach of the $0.23 support invalidates the prior bullish structure, making $0.22 the new short-term floor and exposing a possible slide to $0.21. Although institutional accumulation offers some downside buffer, the dominant macro headwinds from U.S. inflation and Fed uncertainty mirror past capitulation events, suggesting further bearish momentum in the near term. Long-term recovery will depend on reclaiming the $0.23–$0.25 range and renewed confidence.