Dogecoin Holds 16 Cent Support as Bulls Defend Multi-Week Floor
2025-07-05 06:27:40
Main Idea
Dogecoin stabilized at 16.3 cents after a 5% intraday drop, showing signs of strength with strong trading volume and a V-shaped recovery.
Key Points
1. Dogecoin dropped 5.36% from $0.170 to $0.161 between July 4 and July 5.
2. A key bounce occurred at $0.162 with trading volume reaching 452M, more than 2x the 24-hour average.
3. Price action tightened into a narrow band between $0.162 and $0.164, forming a V-shaped recovery from $0.163 to $0.164.
4. Volume surged to 7.3M DOGE at 04:29, marking the session’s strongest trading activity.
5. Horizontal support at $0.163 was reestablished, aligning with prior levels.
Description
Dogecoin stabilized Saturday after a steep intraday decline, bouncing off a low of 16.1 cents and closing near 16.3 cents. The 5% drop came amid broader market volatility driven by macroeconomic concerns and shifting investor sentiment. Despite the downturn, DOGE showed signs of strength, with volume at support levels well above average, suggesting possible accumulation as the market seeks direction. News Background Global markets continue to absorb a wave of economic pressure from ongoing trade...
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