DOGE Price Stalls as Major Whale Transfer Sparks Selling Pressure

Dogecoin (DOGE) is trading in a tight range around $0.22 as large holders liquidate and corporate desks absorb the flows, creating a balance between selling pressure and accumulation.

Market Background

Between 24–25 August, a whale moved 900 million DOGE (over $200 million) to Binance, sparking fears of a broader sell-off. Prices briefly dropped from $0.25 to test $0.23 support amid elevated volumes.

Despite the liquidation, on-chain data shows whales accumulated 680 million DOGE during August, signaling a tug-of-war between distribution and accumulation. Futures open interest fell 8%, highlighting reduced speculative leverage. Macro cues, including Powell’s Jackson Hole remarks, provided temporary support to the meme-coin sector.

Price Action

From 27 August 03:00 to 28 August 02:00 GMT, DOGE traded within a $0.01 (3%) range, hovering near $0.22.

Peak institutional activity occurred at 20:00 GMT on 27 August, when DOGE rose from $0.219 to $0.224 on 1.26 billion volume, nearly four times the hourly norm.
Late in the session (01:20–02:19 GMT on 28 August), DOGE rallied from $0.219 lows to $0.224 intraday highs before settling back near $0.220–$0.221.

Technical Summary

Support: $0.219–$0.220
Resistance: $0.224–$0.225
Momentum: RSI mid-50s, signaling equilibrium
Volume: Institutional spike marks accumulation; overall lower activity hints at consolidation
Pattern: Tight range indicates compression; breakout could set the next directional move
Risk: Reduced futures OI tempers volatility and breakout conviction

Key Levels to Watch

Can $0.219 support withstand further whale selling?
A break above $0.225 could push DOGE toward $0.23–$0.24
Continued corporate accumulation around $0.22 may indicate treasury desk positioning
Renewed futures leverage could amplify DOGE’s next move

DOGE remains in a compression phase, balancing whale distribution and institutional accumulation while traders watch key levels for signs of a directional breakout.