Strong digital asset sales send DOGE down 5%; Desks watch base formation as selling pressure shows early signs of exhaustion.
News background
- DOGE followed the broader market sell-off triggered by renewed tariff rhetoric between the United States and China, falling 5% from highs of $0.21 to settle at $0.20. President Trump’s proposed 100% tariff plan wiped out approximately $19 billion in crypto market value, leading to forced liquidations across major companies.
- Despite the sell-off, institutional desks are reporting interest accumulation near the $0.20 level as derivatives open interest resets to mid-September levels.
- House of Doge’s Nasdaq debut, valued at $50 million through its merger with Brag House Holdings, continues to underpin the long-term institutional narrative, although short-term flows remain risk averse.
Price Action Summary
- DOGE traded a range of $0.0117 (6%) between $0.21 and $0.20 until October 14 from 21:00 to October 14. 15 20:00.
- Volume rose to 568.6 million by 08:00 on the morning rally to $0.21 before sellers regained control.
- The largest liquidation occurred between 1:00 p.m. and 3:00 p.m., with a turnover of 920 million, as the price fell below $0.21.
- The capitulation at 19:50 took the price to lows of $0.20 on volume of 12 million, indicating likely exhaustion.
- DOGE stabilized near $0.20 at the close with reduced volume, suggesting an early return in demand.
Technical analysis
- Support remains firm between $0.20 and $0.202, consistent with high volume accumulation during the settlement lows. Resistance lies between $0.21 and $0.214, the area limited by the morning’s reversal volume.
- The near-term structure remains fragile as DOGE trades below the 200-day moving average, but volume compression and stable supply depth at $0.20 suggest possible base building. A clean recovery to $0.21 could invite momentum longs with a target of $0.224 to $0.228.
- Momentum indicators remain oversold; Derivatives funding turned sharply negative on Binance and OKX, conditions that often precede short covering rallies.
What traders are watching
- $0.20 Support: Opens if bids absorb post-settlement supply across Asia.
- Track the volume of any $0.21 claim to confirm the reversal.
- Institutional positioning around House of Doge’s Nasdaq-linked instruments.
- Broader risk sentiment around US-China trade headlines.
