Dogecoin fell 4% overnight, dropping from $0.23 to $0.22 as heavy trading volume overwhelmed support levels, marking a significant decline in the crypto market. This drop aligns with a broader liquidation trend in the industry, influenced by U.S. inflation data. Despite the price decline, institutional investors accumulated 2 billion DOGE worth about $500 million this week. The trading volume surged to 782 million DOGE, indicating capitulation selling. As the market tries to stabilize, $0.22 is now viewed as a critical support level, while resistance is building near $0.23 where profit-taking is occurring. Analysts are monitoring if institutional accumulation will continue and how macroeconomic factors may affect the cryptocurrency market in the near future. A reclaim above $0.23 could signal a reversal; otherwise, a test of $0.21 support may be imminent.

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