#Dogs #PEPE #TRUMP #MarketPullback #TrumpTariffs $DOGE $PEPE $TRUMP DOGE price drops 8%, shows signs of heading towards 0.21 cents
July 31 to August 1
- 8% Drop: DOGE fell from $0.22 to $0.21, with a trading range of $0.20 to $0.23.
- High Volume: Trading volume has risen to 1.25B DOGE (vs. 365M on average), indicating heavy settlement activity.
- Failed Breakout: Resistance at $0.23 remains strong, while $0.21 has emerged as short-term support.
Institutional Activity
- 310M DOGE Accumulated: Large wallets bought during the decline, indicating institutional interest.
- Bit Origin’s $500M Diversification: Added 40M DOGE to its treasury, signaling the
company’s
confidence.
Market Drivers & What to Watch
- Macro Risk: Crypto markets remain pressured by inflation and Fed rate uncertainty.
-Key Levels: Holding $0.20–$0.21 is important. A break above $0.23 could signal a recovery.
- Institutional Demand: Continued upside could provide bullish momentum.
What impact does the coin’s price drop have on the crypto market? And could it see a price increase by the end of August?
Impact of DOGE’s Drop on Crypto Market:
- A sharp decline in DOGE (an influential meme coin) can weaken short-term sentiment, especially in altcoins.
- However, since DOGE is not a major market driver like Bitcoin, its drop alone won’t crash the broader crypto market.
Possible Price Increased by End of August?
- Yes, if:
- Bitcoin and crypto markets rebound from macro pressures (Fed rates, inflation).
- Institutional accumulation (310M DOGE bought during dip) leads to demand.
- Meme coin hype returns (e.g., Elon Musk tweets, exchange listings).
-No, if:
- The market stays bearish and DOGE loses $0.20 support.
- Low trading volume persists, indicating weak momentum.
DOGE could recover by August if market conditions improve, but it depends heavily on Bitcoin’s trend and meme coin speculation.