Dogecoin Drops 8% but Shows V-Shaped Recovery in Boost for Bulls
Dogecoin is showing early signs of recovery after a steep intraday drop that pushed prices to their lowest levels in weeks.
The sell-off, triggered by broader macroeconomic uncertainty and geopolitical tensions, found strong buyer interest near the $0.151 level, with volume spiking to 828 million units during the capitulation.
Since then, DOGE has stabilized near $0.157, forming higher lows and hinting at a potential bottoming structure.
News Background
- Global economic pressures — from escalating trade disputes to hawkish central bank stances — have weighed heavily on crypto markets.
- DOGE, often viewed as a bellwether for retail sentiment, bore the brunt of risk-off flows. But despite the volatility, network activity has remained stable, and on-chain veri shows signs of accumulation.
- Analysts point to the $0.151 level as a crucial support zone following the 8% plunge.
- Central banks continue to signal concern over inflation, and with crypto markets reacting sharply to macro headlines,
- DOGE’s ability to recover from its lows may attract short-term traders looking for signs of a rebound.
Price Action
DOGE dropped sharply from $0.164 to $0.151 during the 21:00 hour on June 21, with volume exploding to 828M—the highest hourly tally in over a week. This marked a clear capitulation point, followed by a modest recovery as buyers stepped in.
Price has since rebounded to the $0.157 level, forming a short-term consolidation zone. In the most recent session, DOGE printed a series of higher lows, including a small breakout attempt at 06:57 when volume spiked to nearly 8M units. Immediate resistance now sits at $0.157–$0.160, while support remains firm at $0.151.
Technical Analysis Recap
- DOGE posted a 7.9% range over 24 hours, falling from $0.164 to $0.151.
- Capitulation event at 21:00 drew 828M in volume, confirming $0.151 as major support.
- Price rebounded to $0.157, where it’s now consolidating on declining volatility.
- Higher lows suggest early accumulation pattern forming.
- Resistance zone sits at $0.157–$0.160; bulls need a close above $0.160 for breakout confirmation.
- Support at $0.151 backed by extreme volume and V-shaped bounce.
- MACD turning positive; RSI neutral at ~48, signaling room for upside if momentum builds.
