Dogecoin (DOGE) has shown a rebound from the $0.21 support level following a slight decline of 5% influenced by broader market weaknesses and significant whale activity. An unknown whale transferred 900 million DOGE to Binance, impacting market volatility and open interest in DOGE futures dropped by 8%. Despite retail selling pressures, institutional demand appears resilient, with 680 million DOGE accumulated in August. The cryptocurrency’s network fundamentals remain robust, as evidenced by a hashrate exceeding 2.9 petahashes per second, which bolsters mining security. Technical indicators suggest that the primary support at $0.21 is crucial, while resistance is observed at $0.23. The market is closely watching whether DOGE can maintain this support amid whale selling, as a breakout above $0.23 could lead to targets of $0.25 to $0.30. Traders are also monitoring institutional accumulation trends and futures open interest as critical signals for market direction.

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