DOGE Futures OI Slides 8% Even as Fabled 'Golden Cross' Intact on Higher Timeframes

Dogecoin retreated sharply on August 24–25 after spiking to $0.25, as heavy whale transfers to Binance coincided with distribution pressure and fading momentum at key ￰0￱ institutional accumulation earlier in the month, the token is now testing critical support ￰1￱ Background Market attention turned to DOGE after a 900 million token transfer (valued at over $200 million) was tracked moving to Binance ￰2￱ move raised concerns about short-term sell pressure just as the token’s rally toward $0.25 ran into resistance. Meanwhile, on-chain data showed whales accumulated over 680 million DOGE in August—suggesting deeper-pocketed investors remain positioned for long-term upside even as near-term technicals ￰3￱ context also weighed on ￰4￱ assets pulled back following fresh trade policy headlines and hawkish central bank ￰5￱ open interest in DOGE dipped 8%, reflecting lighter speculative positioning despite the month’s whale ￰6￱ Action Summary • DOGE traded in a wide $0.02 range (8%) between $0.23 lows and $0.25 highs in the 24-hour period from August 24 at 06:00 to August 25 at 05:00. • The key breakout occurred at 19:00 UTC on August 24, when DOGE spiked to $0.25 on 2.29 billion volume—multiple times the daily average. • The move quickly reversed, with prices sliding to $0.23 and settling at $0.23 by session close, down 3% from the open. • In the final hour (04:44–05:43), DOGE fell another 0.4% as heavy volume broke through $0.229 intraday support, hitting lows near $0.228 before closing at $0.228.

Technical Analysis • Resistance : Heavy rejection at $0.25 confirmed strong overhead supply, with 2.29 billion tokens traded at the peak. • Support : Multiple retests anchored support near $0.23, though pressure persisted through late-session deterioration. • Pattern : Range-bound consolidation ($0.228–$0.233) suggests buyers defending support but momentum favoring sellers. • Volume : Spikes of 10–12 million per minute during the 05:07–05:08 window signal institutional distribution. • Indicators : A golden cross remains intact on higher timeframes, but immediate momentum skews bearish without a reclaim of $0.24. What Traders Are Watching • Whether $0.23 holds as durable support—loss of this level could open downside toward $0.21 psychological zone. • Follow-through on whale transfers: more Binance inflows could intensify sell pressure, while further accumulation would counterbalance. • Futures positioning: OI contraction suggests sidelined leverage, but a rebound could fuel the next move. • Macro backdrop: risk assets remain sensitive to central bank policy; dovish turns could provide relief rallies. • Broader meme coin flows: correlation with SHIB and PEPE rallies remains a secondary driver of speculative flows into DOGE.