DOGE Futures OI Drops 8%, While Higher-Timeframe Golden Cross Holds Firm

Dogecoin Slides as Whale Activity and Resistance at $0.25 Stall Momentum

Dogecoin’s sharp rally stalled between August 24–25, with the token falling back toward key support at $0.23 amid heavy whale selling and weakening market sentiment. Despite earlier institutional accumulation, traders now face a more cautious near-term outlook.

Market Overview

DOGE surged to $0.25 on August 24 before swiftly reversing course. The move came as blockchain data flagged a massive 900 million DOGE transfer—worth over $200 million—to Binance, sparking fears of increased sell pressure. Although whales accumulated over 680 million DOGE earlier in August, the latest flows suggest a near-term distribution phase is underway.

Broader macro factors also weighed on sentiment, including hawkish rhetoric from central banks and renewed trade tensions. This backdrop contributed to an 8% decline in DOGE futures open interest, pointing to lighter speculative positioning.

Price Performance

DOGE traded in an 8% range between $0.23 and $0.25 from August 24 (06:00 UTC) to August 25 (05:00 UTC).
A sharp breakout at 19:00 UTC on August 24 lifted prices to $0.25 on 2.29 billion volume—well above daily averages.
Momentum quickly faded, with DOGE pulling back to $0.23 by session’s end, down 3% from the daily open.
In the final hour, prices dipped as low as $0.228 after breaking below intraday support at $0.229.

Technical Setup

Resistance: Strong rejection at $0.25 confirmed significant overhead supply.
Support: $0.23 remains a key level, but late-session pressure suggests it may be weakening.
Structure: DOGE is consolidating between $0.228 and $0.233, with short-term momentum favoring sellers.
Volume Profile: Minute-level spikes of 10–12 million DOGE highlight potential institutional distribution.
Indicators: A golden cross remains intact on higher timeframes, but a near-term recovery requires a reclaim of $0.24.

What Traders Are Monitoring

$0.23 Support Zone: A breakdown here could open the door to a test of the $0.21 psychological area.
Whale Activity: Further inflows to centralized exchanges may signal continued selling pressure.
Futures Positioning: An uptick in open interest could signal renewed speculative interest and potential volatility.
Macro Landscape: Dovish surprises from central banks could provide upside fuel across risk assets.
Sector Correlation: DOGE remains linked to broader meme coin sentiment, especially alongside SHIB and PEPE flows.