Yeliz Akmaca 
Dogecoin faced selling pressure on August 24-25 after a major whale transfer. A single whale moved 900 million DOGE to Binance wallets. The transfer exceeded $200 million and caused a short-term market panic. Prices briefly dropped from $0.25 to $0.23 under high volume. However, the $0.219 support level held and stabilized the price.
Meanwhile, on-chain data shows whales accumulated 680 million DOGE during August. This indicates a tug-of-war between distribution and accumulation. Furthermore, open interest in the futures market dropped by 8%. This reflects a reduction in leveraged positions and lower speculative pressure.
At the same time, the meme-coin market remained sensitive to macro signals. Powell’s Jackson Hole remarks triggered a temporary uplift across the sector. Investors continued closely monitoring DOGE’s movement around $0.22.
DOGE Holds in a Narrow Range: Key Levels for Investors
From August 27 03:00 to August 28 02:00, Dogecoin traded in a tight range near $0.22. Prices recovered from $0.219 support to reach $0.224. Institutional buying peaked at 1.26B volume on August 27 at 20:00 GMT. This was nearly four times the hourly average. The purchases briefly pushed the price to $0.224.
Eventually, profit-taking brought DOGE back to the $0.220-$0.221 range. Moreover, a breakout above $0.225 could trigger a move toward $0.23-$0.24. Also, maintaining the $0.219 support level remains critical to limiting whale impact.
Investors are watching whether institutional desks continue buying around $0.22. This could pave the way for a broader rally. Renewed leverage activity in the futures market is also a key indicator for DOGE’s next directional move.
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