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4w ago

Dogecoin Drops Below $0.23 as Whales and Institutions Accumulate the Dip

Trading below its 100-hour average, DOGE shows bearish MACD and RSI readings as whales and corporate treasuries keep buying

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Overview

  • Dogecoin is trading around $0.228, having fallen below its $0.235 and $0.232 support levels and dipped under the 100-hour simple moving average.
  • The token’s decline from its mid-July $0.25 peak has underperformed Bitcoin and Ethereum and pushed its MACD into negative territory while keeping the RSI below 50.
  • On-chain data show whales purchased over 130 million DOGE in 24 hours and nearly $250 million in 48 hours, suggesting continued confidence in the dip.
  • Bit Origin Ltd’s $500 million treasury initiative and rising spot DOGE ETF odds reflect growing institutional engagement.
  • Immediate support lies at $0.2220, and a break below could extend declines toward $0.2050, while a clear move above $0.2280–$0.2350 resistance could open the way for a rebound toward $0.25.