TL;DR<\/p>\n
Dogecoin dropped to $0.20, moving in a $0.23 to $0.20 range during heavy selling.<\/span> Dogecoin (DOGE) fell 8% in the past 24 hours, dropping from $0.22 to $0.21. This was one of the steepest daily moves for the token in July. The price action moved within a $0.23 to $0.20 range, facing resistance at the top and heavy selling near the session close.<\/span><\/p>\n However, trading volumes spiked, with a midnight surge to 1.25 billion DOGE, which points to large liquidations and cascading sell orders from leveraged positions.\u00a0<\/span><\/p>\n Dogecoin<\/span><\/a> trades at $0.20 as of press time, down 11% over the past week, giving it a market cap of $31 billion.<\/span><\/p>\n Trader Tardigrade shared a 1-month chart showing DOGE inside a long-term ascending channel that has held since 2014. DOGE has often bounced from the lower boundary of this channel, shown in pink on the chart.<\/span><\/p>\n $Doge<\/a>\/M1#Dogecoin<\/a> Long term Channel has been established pic.twitter.com\/m8nfq29Q8M<\/a><\/p>\n \u2014 Trader Tardigrade (@TATrader_Alan) August 1, 2025<\/a><\/p>\n\n Meanwhile, the current price is near the lower-middle part of the channel, an area that has led to multi-month rallies when the trend held. Dogecoin\u2019s long-term structure stays intact while it trades within this ascending channel, even after the recent decline.<\/span><\/p>\n In addition, Trader Tardigrade also noted<\/a> that Dogecoin\u2019s monthly candle closed as the third consecutive bullish engulfing candle, which he described as a setup for a potential \u201cmove to Valhalla.\u201d<\/p>\n Ali Martinez noted that DOGE may be forming a falling wedge on the 1-hour chart, with a projected target of $0.265. A move above $0.229\u2013$0.230 would confirm bullish momentum, while $0.215\u2013$0.210 remains key support if the wedge fails.<\/span><\/p>\n Dogecoin $DOGE<\/a> could be forming a falling wedge, which projects a target of $0.265! pic.twitter.com\/P9WQbMrXfI<\/a><\/p>\n \u2014 Ali (@ali_charts) July 31, 2025<\/a><\/p>\n\n Institutional wallets <\/span>acquired<\/span><\/a> 310 million DOGE during the correction. Bit Origin <\/span>added<\/span><\/a> 40 million DOGE to its treasury under a $500 million diversification program. Broader crypto markets remain pressured by macroeconomic uncertainty, with inflation and equity risk shaping short-term demand.<\/span><\/p>\n The post Dogecoin Slides 8% but Long-Term Channel Holds, Can DOGE Rebound?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" TL;DR Dogecoin dropped to $0.20, moving in a $0.23 to $0.20 range during heavy selling. Analysts see support in the long-term channel and a wedge pattern aiming for $0.265. Large holders bought 310 million coins, while Bit Origin added 40 million to reserves. Dogecoin Records Sharp Daily Decline Dogecoin (DOGE) fell 8% in the past […]<\/p>\n","protected":false},"author":0,"featured_media":85688,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-85687","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85687"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=85687"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85687\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/85688"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85687"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85687"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85687"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nAnalysts see support in the long-term channel and a wedge pattern aiming for $0.265.<\/span>
\nLarge holders bought 310 million coins, while Bit Origin added 40 million to reserves.<\/span><\/p>\nDogecoin Records Sharp Daily Decline<\/h2>\n
Long-Term Channel Remains Intact<\/h2>\n
Short-Term Wedge and Institutional Activity<\/h2>\n