Market Context
DOGE experienced a 5.3% price fluctuation during the 24-hour period ending October 6th, oscillating between $0.265 and $0.251. The cryptocurrency opened at $0.258, briefly surged to $0.264, then retreated amid afternoon selling pressure. The session concluded with robust support maintaining the $0.251-$0.252 range as buying interest stabilized prices around $0.254. Blockchain analytics revealed mid-tier wallets acquired 30 million DOGE tokens, increasing their cumulative holdings to 10.77 billion DOGE, while the wealthiest 1% of addresses now command over 96% of total supply.
Trading Activity Overview
- DOGE navigated a $0.014 trading corridor, reaching a high of $0.265 and low of $0.251
- Afternoon selling pressure temporarily depressed prices, but the $0.251-$0.252 support level held firm
- Late-session trading stabilized around $0.254, suggesting potential price floor formation
- Final hour activity featured a selloff to $0.2540 followed by moderate recovery, with average volumes of 5.2M and liquidation spikes reaching 33.1M
Technical Perspective
- Primary support remains established at $0.251-$0.252, where buyers consistently absorbed selling pressure
- Immediate resistance persists at $0.265, where profit-taking activity has limited upward advances
- Price action reflects tight consolidation within a developing ascending triangle formation
- On-chain data indicates accelerating accumulation by major holders, reinforcing bullish technical structure
- A confirmed breakout above $0.265 could activate price targets in the $0.27-$0.30 range
Market Focus Areas
- Sustainability of $0.25 as foundational support during U.S. trading hours
- Potential continuation of whale accumulation beyond the 30M tokens added this session
- Breakout potential above the $0.265 resistance level
- Impact of supply concentration (96% held by top addresses) on volatility near key technical levels