Dogecoin failed to sustain above $0.26, triggering heavy institutional profit-taking that dragged price back toward $0.25.
Despite the short-term retreat, on-chain flows show large holders adding 30M tokens (approximately $8M), suggesting accumulation remains intact even as resistance caps upside momentum.
DOGE traded a 6% range between $0.24 and $0.26 in the 24 hours to Oct. 9. The token rallied into $0.26 during the afternoon session but met strong institutional selling pressure. Whale addresses added more than 30M DOGE, reinforcing longer-term positioning despite near-term weakness. Analysts highlighted parallels to prior historical cycles where key resistance breaks have unlocked exponential upside, with $0.41 flagged as a critical longer-term trigger.
Resistance is reinforced at $0.26 after repeated rejections on elevated volume. Support at $0.25 failed late in the session under liquidation flows, raising near-term downside risk. Still, accumulation patterns — with 30M DOGE added by large wallets — point to institutional confidence in the broader structure. A sustained reclaim of $0.26 would open the path toward $0.27–$0.30, while $0.24 is now the near-term floor to watch.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
