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Dogecoin rebounded sharply from $0.21 lows, closing at $0.22 after a late-session surge in volume and aggressive whale accumulation, even as security risks from Qubic’s attack threat linger.
News Background
DOGE has faced pressure this month after reports tied to Qubic’s potential 51% attack spooked retail traders and drove selling.
Despite those risks, on-chain data shows whale cohorts accumulated more than 680 million DOGE in August, offsetting retail outflows.
Broader market sentiment has been mixed, with Bitcoin and Ethereum consolidating near highs, leaving memecoins trading with outsized volatility.
Price Action Summary
DOGE advanced 5% in the 24 hours ending Aug. 21, 04:00, recovering from an intraday bottom of $0.21 to close at $0.22.
The token hit its session low around 13:00 UTC on Aug. 20 before reversing course in a V-shaped recovery.
Trading volume spiked to 9.29 million in the final hour, adding 0.45% in the last stretch and confirming institutional-sized flows.
Whales accumulated 680 million DOGE through August, positioning despite ongoing concerns around Qubic’s potential 51% attack.
Technical Analysis
Key support held at $0.21, tested at mid-session before high-volume reversal.
Resistance emerged at $0.22, setting a $0.01 trading range for the session.
A breakout was triggered at 04:31 UTC with the 9.29 million volume spike marking the session pivot.
Sustained turnover at 6.8 million per minute during the final hour points to larger buyers driving momentum.
What Traders Are Watching
Whether $0.22 can flip from resistance into support, opening path toward $0.23–$0.24.
Continued whale positioning trends against the backdrop of Qubic security concerns.
Strength of follow-through buying after the late-session volume burst, which will confirm if the V-shaped recovery has legs.
