Meme coin pushes through resistance on billion-token accumulation before late-session pullback trims highs.
Technical Analysis Overview
DOGE climbs 6.5% in the 23-hour period ending August 13 14:00, advancing from $0.23 to $0.24 in a $0.02 range (9.58% volatility). Early trade confirms $0.23 as key support on above-average volume, while mid-session strength between 07:00-08:00 sends price through multiple resistance levels on 1.56B volume — the day’s largest print — signaling coordinated institutional accumulation.
Price stalls near $0.25 as profit-taking hits, capping the breakout. Support shifts higher to $0.24 after multiple successful retests into the close.
News Background
Whale accumulation exceeded 1B DOGE (~$200M) during the rally, lifting large-holder ownership close to half the circulating supply. The surge aligns with bullish technical setups on daily charts, including a bull flag breakout and an emerging golden cross, with pattern targets pointing toward the $0.30 zone.
Price Action Summary
• DOGE gains 7% from $0.23 to $0.24 during August 12 15:00–August 13 14:00
• 07:00-08:00 breakout on 1.56B volume clears multiple resistance levels
• Price peaks near $0.25 before retracing to $0.24 on profit-taking
• $0.24 support holds on repeated late-session tests
Market Analysis and Economic Factors
The combination of whale inflows and bullish chart structures underpinned DOGE’s momentum, though supply at $0.25 remains a near-term cap. The consolidation above $0.24, coupled with rising support levels, keeps the technical bias positive. Sustained institutional participation will be key for a $0.25 breakout and a run toward the $0.30 technical target.
Technical Indicators Analysis
• Support: $0.23 (early defense), $0.24 (late-session floor)
• Resistance: $0.25 (profit-taking zone)
• Volume: 1.56B during breakout hour; daily average 565.8M
• Bull flag breakout with golden cross forming on daily charts
• Higher lows indicate persistent accumulation trend
What Traders Are Watching
• Breakout confirmation above $0.25 to open path toward $0.30 target
• Strength of $0.24 support on any profit-taking dips
• Continuation of large-holder accumulation trends
• Impact of broader market sentiment on meme coin flows
Source link
Shaurya Malwa
https://www.coindesk.com/markets/2025/08/13/doge-jumps-7-as-bull-flag-breakout-signals-run-toward-30-cents
2025-08-13 14:49:00
