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TL;DR<\/b><\/p>\n Dogecoin (DOGE) fell 8% in the past 24 hours, dropping from $0.22 to $0.21. This was one of the steepest daily moves for the token in July. The price action moved within a $0.23 to $0.20 range, facing resistance at the top and heavy selling near the session close.<\/span><\/p>\n However, trading volumes spiked, with a midnight surge to 1.25 billion DOGE, which points to large liquidations and cascading sell orders from leveraged positions.\u00a0<\/span><\/p>\n Dogecoin<\/span><\/a> trades at $0.20 as of press time, down 11% over the past week, giving it a market cap of $31 billion.<\/span><\/p>\n Trader Tardigrade shared a 1-month chart showing DOGE inside a long-term ascending channel that has held since 2014. DOGE has often bounced from the lower boundary of this channel, shown in pink on the chart.<\/span><\/p>\n $Doge<\/a>\/M1#Dogecoin<\/a> Long term Channel has been established pic.twitter.com\/m8nfq29Q8M<\/a><\/p>\n \u2014 Trader Tardigrade (@TATrader_Alan) August 1, 2025<\/a><\/p>\n<\/blockquote>\n Meanwhile, the current price is near the lower-middle part of the channel, an area that has led to multi-month rallies when the trend held. Dogecoin\u2019s long-term structure stays intact while it trades within this ascending channel, even after the recent decline.<\/span><\/p>\n In addition, Trader Tardigrade also noted<\/a> that Dogecoin\u2019s monthly candle closed as the third consecutive bullish engulfing candle, which he described as a setup for a potential \u201cmove to Valhalla.\u201d<\/p>\n Ali Martinez noted that DOGE may be forming a falling wedge on the 1-hour chart, with a projected target of $0.265. A move above $0.229\u2013$0.230 would confirm bullish momentum, while $0.215\u2013$0.210 remains key support if the wedge fails.<\/span><\/p>\n Dogecoin $DOGE<\/a> could be forming a falling wedge, which projects a target of $0.265! pic.twitter.com\/P9WQbMrXfI<\/a><\/p>\n \u2014 Ali (@ali_charts) July 31, 2025<\/a><\/p>\n<\/blockquote>\n Institutional wallets <\/span>acquired<\/span><\/a> 310 million DOGE during the correction. Bit Origin <\/span>added<\/span><\/a> 40 million DOGE to its treasury under a $500 million diversification program. Broader crypto markets remain pressured by macroeconomic uncertainty, with inflation and equity risk shaping short-term demand.<\/span><\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n <\/p><\/div>\n\n
Dogecoin Records Sharp Daily Decline<\/b><\/h2>\n
Long-Term Channel Remains Intact<\/b><\/h2>\n
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Short-Term Wedge and Institutional Activity<\/b><\/h2>\n
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