Dogecoin's price has declined below critical support levels amidst increased selling pressure due to global trade tensions and security concerns. Despite whale wallets aggressively accumulating nearly 100 billion DOGE, the price action shows damaging technical indicators that traders should monitor closely. In August, whale wallets added 680 million DOGE, reaching the highest holdings seen in months. However, technical analysis reveals that Dogecoin's recent golden cross pattern has failed to trigger upward momentum. The token experienced a drop from $0.24 to $0.23 between August 17 and 18, highlighting significant volatility. As key support at $0.23 has broken, further downside risk is probable, while market participants keep an eye on macroeconomic factors and the potential for a 51% attack from a competing community.

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