Share this article
DOGE Rebounds From $0.21 Floor, 'Cup-and-Handle' Pattern Targets $0.30
The meme token posts a late-session rally on Aug. 30–31, with whale and exchange flows highlighting ongoing institutional participation despite macro uncertainty.
Updated Aug 31, 2025, 5:00 p.m. Published Aug 31, 2025, 5:34 a.m.
Make us preferred on Google
What to know:
- Dogecoin fell 5% in 24 hours, influenced by broader risk-asset weakness and significant whale activity.
- An unknown whale transferred 900 million DOGE to Binance, sparking market volatility and a drop in futures open interest.
- Despite retail selling, institutional demand is evident with 680 million DOGE accumulated in August, while network fundamentals remain strong.
Dogecoin fell 5% in the 24-hour period from Aug. 28 at 09:00 to Aug. 29 at 08:00, tracking broader risk-asset weakness, according to CoinDesk Research's technical analysis model.
Between Aug. 24–25, an unknown whale shifted 900 million DOGE (~$200 million) to Binance wallets, fueling concerns of distribution and triggering market volatility, the model showed.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Open interest in DOGE futures slipped 8% after the inflows, reflecting lighter speculative positioning. Meanwhile, on-chain data shows whales continue to build exposure, with 680 million DOGE accumulated in August, signaling institutional demand despite retail selling.
However, Dogecoin’s network fundamentals remain firm, with hashrate climbing above 2.9 petahashes per second, underscoring mining security at record levels.
Price action summary
- DOGE dropped from $0.22 to $0.21 in the 24-hour trading window, a 5% decline across a $0.011 (≈3%) range between $0.23 and $0.21.
- The sharpest move occurred at 07:24–08:23 GMT on Aug. 29, when DOGE fell 0.57% from $0.22 to $0.21 on a 27.36 million volume spike at 08:20.
- Mid-session flows of 626.3 million tokens coincided with the $0.22 breakdown, cementing $0.21 as immediate support.
- Despite pressure, the token consolidated near $0.21 into the session close, suggesting stabilization after heavy liquidation.
Technical analysis
- Support: $0.21 holds as the primary floor; breach risks extension to $0.20.
- Resistance: $0.23 remains the short-term ceiling after repeated rejections.
- Momentum: RSI hovers near mid-40s, reflecting neutral-to-bearish bias.
- MACD: Bearish divergence persists, with no confirmed crossover yet.
- Patterns: Tight $0.21–$0.23 consolidation suggests compression phase; direction will hinge on resolution of whale flows.
- Volume: Elevated 626.3 million during the $0.22 breakdown signals continued institutional distribution.
What traders are watching
- Whether $0.21 support can hold under ongoing whale selling.
- A breakout above $0.23 could open the path toward $0.25–$0.30.
- Signs of renewed institutional accumulation as whales move supply onto exchanges.
- Futures open interest trends after the 8% drop, a key signal for leveraged demand.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Strive’s preferred equity blueprint for Strategy’s $8 billion convertible debt overhang
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
Top Stories
