Dogecoin Slides 8% but Long-Term Channel Holds, Can DOGE Rebound?

TL;DR

• Dogecoin dropped to $0.20, transferring in a $0.23 to $0.20 vary throughout heavy promoting.
• Analysts see help within the long-term channel and a wedge sample aiming for $0.265.
• Giant holders purchased 310 million cash, whereas Bit Origin added 40 million to reserves.

Dogecoin Data Sharp Day by day Decline

Dogecoin (DOGE) fell 8% up to now 24 hours, dropping from $0.22 to $0.21. This was one of many steepest every day strikes for the token in July. The worth motion moved inside a $0.23 to $0.20 vary, going through resistance on the high and heavy promoting close to the session shut.

Nonetheless, buying and selling volumes spiked, with a midnight surge to 1.25 billion DOGE, which factors to massive liquidations and cascading promote orders from leveraged positions. 

Dogecoin trades at $0.20 as of press time, down 11% over the previous week, giving it a market cap of $31 billion.

Lengthy-Time period Channel Stays Intact

Dealer Tardigrade shared a 1-month chart displaying DOGE inside a long-term ascending channel that has held since 2014. DOGE has typically bounced from the decrease boundary of this channel, proven in pink on the chart.

$Doge/M1#Dogecoin Long run Channel has been established pic.twitter.com/m8nfq29Q8M

— Dealer Tardigrade (@TATrader_Alan) August 1, 2025

In the meantime, the present worth is close to the lower-middle a part of the channel, an space that has led to multi-month rallies when the development held. Dogecoin’s long-term construction stays intact whereas it trades inside this ascending channel, even after the current decline.

As well as, Dealer Tardigrade additionally noted that Dogecoin’s month-to-month candle closed because the third consecutive bullish engulfing candle, which he described as a setup for a possible “transfer to Valhalla.”

Quick-Time period Wedge and Institutional Exercise

Ali Martinez famous that DOGE could also be forming a falling wedge on the 1-hour chart, with a projected goal of $0.265. A transfer above $0.229–$0.230 would affirm bullish momentum, whereas $0.215–$0.210 stays key help if the wedge fails.

Dogecoin $DOGE could possibly be forming a falling wedge, which tasks a goal of $0.265! pic.twitter.com/P9WQbMrXfI

— Ali (@ali_charts) July 31, 2025

Institutional wallets acquired 310 million DOGE in the course of the correction. Bit Origin added 40 million DOGE to its treasury beneath a $500 million diversification program. Broader crypto markets stay pressured by macroeconomic uncertainty, with inflation and fairness threat shaping short-term demand.