CoinDesk 2025-06-22 07:40:37

Dogecoin Drops 8% but Shows V-Shaped Recovery in Boost for Bulls

Dogecoin is showing early signs of recovery after a steep intraday drop that pushed prices to their lowest levels in weeks. The sell-off, triggered by broader macroeconomic uncertainty and geopolitical tensions, found strong buyer interest near the $0.151 level, with volume spiking to 828 million units during the capitulation. Since then, DOGE has stabilized near $0.157, forming higher lows and hinting at a potential bottoming structure. News Background Global economic pressures — from escalating trade disputes to hawkish central bank stances — have weighed heavily on crypto markets. DOGE, often viewed as a bellwether for retail sentiment, bore the brunt of risk-off flows. But despite the volatility, network activity has remained stable, and on-chain data shows signs of accumulation. Analysts point to the $0.151 level as a crucial support zone following the 8% plunge. Central banks continue to signal concern over inflation, and with crypto markets reacting sharply to macro headlines, DOGE’s ability to recover from its lows may attract short-term traders looking for signs of a rebound. Price Action DOGE dropped sharply from $0.164 to $0.151 during the 21:00 hour on June 21, with volume exploding to 828M—the highest hourly tally in over a week. This marked a clear capitulation point, followed by a modest recovery as buyers stepped in. Price has since rebounded to the $0.157 level, forming a short-term consolidation zone. In the most recent session, DOGE printed a series of higher lows, including a small breakout attempt at 06:57 when volume spiked to nearly 8M units. Immediate resistance now sits at $0.157–$0.160, while support remains firm at $0.151. Technical Analysis Recap DOGE posted a 7.9% range over 24 hours, falling from $0.164 to $0.151. Capitulation event at 21:00 drew 828M in volume, confirming $0.151 as major support. Price rebounded to $0.157, where it’s now consolidating on declining volatility. Higher lows suggest early accumulation pattern forming. Resistance zone sits at $0.157–$0.160; bulls need a close above $0.160 for breakout confirmation. Support at $0.151 backed by extreme volume and V-shaped bounce. MACD turning positive; RSI neutral at ~48, signaling room for upside if momentum builds.

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