Muhammad Rizwan Nasir

#Dogecoin‬⁩ Tests $0.22 Support as $782M Volume Sparks Liquidations

#DOGE Price Action

Dogecoin DOGE slipped 4% in the last 24 hours, falling from $0.23 to $0.22 as trading volume surged. A wave of stop-loss triggers and profit-taking pressured the market, while resistance continues to build around the $0.23 level.

Heavy Trading Volume Fuels Correction

Between 03:00–04:00 on August 19, trading activity spiked to 782 million #DOGE nearly double the daily average. The sudden surge in volume overwhelmed support at $0.22, sending the token into a correction phase.

Broader Market Pressure

The sell-off in Dogecoin was part of a wider crypto liquidation trend. Over $1 billion in positions were wiped out across digital assets after U.S. inflation data came in higher than expected. The stronger inflation print reduced market hopes for near-term Federal Reserve rate cuts, adding pressure on risk assets like cryptocurrencies.

Institutional Accumulation Despite Price Drop

Interestingly, large investors continue to build positions in #DOGE . Institutional buyers reportedly accumulated 2 billion Dogecoin worth around $500 million in the past week. This brings total tracked holdings to about 27.6 billion DOGE, showing confidence in the asset despite short-term volatility.

Key Takeaways

#DOGE Support Test: Price dipped from $0.23 to $0.22, losing 4% overnight.

Volume Surge: $782M in trading volume triggered cascading stop-losses.

Market Liquidations: Over $1B wiped out across crypto on inflation concerns.

Institutional Buying: 2 billion DOGE added to holdings, signaling long-term interest.