In the past 24 hours, the price of Dogecoin has fallen from around $0.24 to about $0.22, a decrease of nearly 7%. A peak of selling occurred at 7 AM, with the price being capped by resistance at $0.238, during which the trading volume reached 485 million, indicating strong selling pressure. Subsequently, $0.226 became a key support level defended by buyers, attracting 793 million in funds, but the rebound was hindered at $0.231, and the price failed to break through further upward.

In the last hour, Dogecoin's price fluctuated slightly in the range of $0.2247 to $0.2253, with trading volume significantly decreasing, as both buyers and sellers temporarily slowed down.

From the overall market perspective, whales and institutional investors took profits around $0.238, pushing the price below $0.23, after which the price retested the $0.226 support. Although there were two spikes in trading volume during the session, with strong buying performance, Dogecoin faced repeated resistance near $0.231, remaining under pressure.

The trading volume has contracted at low levels, indicating that selling power may be weakening, and the market may be building a bottom. However, external macroeconomic factors may still pose a challenge around $0.22.

Key Technical Points

Resistance Levels: $0.238 (strong selling pressure), $0.231 (minor resistance)

Support Levels: $0.226 (buyer's defensive line), $0.2247-$0.2249 (intraday low points)

24-hour price fluctuation of about $0.019, volatility of 7.9%

Clear signs of weakening selling pressure, but repeated failures to break through $0.231 confirm upward pressure

Traders Focus on

Whether the price can hold the key support at $0.22

Whether it can successfully break through $0.231 to take a key step towards recovery

The impact of macro news on the sentiment of the entire meme coin market

Whether whales will increase their positions again after the sell-off