Whale Buying Sparks V-Shaped Rally in Dogecoin From Recent $0.21 Dip

Dogecoin Bounces Off $0.21 as Whale Inflows Drive V-Shaped Recovery

Dogecoin (DOGE) reversed early losses Tuesday to post a sharp rebound from $0.21, closing at $0.22 amid strong buying by large holders. The recovery unfolded despite lingering security concerns tied to a potential 51% attack reportedly involving Qubic.

Context: Qubic Fears vs. Whale Demand

DOGE has been under pressure this month after reports suggested Qubic could pose a 51% attack risk. That narrative triggered selling across retail segments and added to broader volatility in memecoins. However, whale wallets accumulated over 680 million DOGE in August, absorbing the outflows and stabilizing price action.

Across the crypto landscape, major tokens like Bitcoin and Ethereum continue to consolidate near local highs, while memecoins have shown exaggerated intraday swings.

Price Performance

DOGE rose 5% in the 24 hours ending 04:00 UTC on August 21.
It hit a session low of $0.21 around 13:00 UTC before bouncing sharply.
The token closed at $0.22, with momentum accelerating in the final hour.
Trading volume spiked to 9.29 million DOGE late in the session, contributing an extra 0.45% to the day’s gains.

Technical Overview

Key support at $0.21 held through mid-session pressure.
Resistance emerged at $0.22, creating a narrow, well-defined range.
A breakout was attempted at 04:31 UTC, triggered by the volume surge.
Final-hour turnover reached 6.8 million DOGE per minute, indicating large buyer activity.

What’s Next

Traders are closely watching three key developments:

Can $0.22 flip into support? That would open a path toward $0.23–$0.24.
Will whales keep accumulating amid unresolved Qubic-related risks?
Is there follow-through? Sustained upside will depend on volume continuation and broader sentiment shifts.

Despite elevated risk factors, Dogecoin’s ability to defend $0.21 and attract institutional-scale flows suggests buyers are stepping in with conviction. If momentum holds, a retest of higher resistance levels may be on the table.